Apple is in contract to buy a Sunnyvale property for $365 million in its third massive Bay Area deal this year, the San Francisco Chronicle reports Wednesday citing “a person with direct knowledge.”
Roland Li for the San Francisco Chronicle:
The tech giant has agreed to buy the four-building Mathilda Campus at 505-599 North Mathilda Ave. and 605 West Maude Ave. from Kilroy Realty, said two sources who weren’t authorized to speak publicly on the pending sale. Apple already leases 581,429 square feet, or the majority, of the 663,000-square-foot complex.
Kilroy, a major West Coast landlord, said in its earnings report Monday that it was in contract to sell “a four building campus in Silicon Valley,” without identifying the buyer or property. It said the deal is expected to close in the late third quarter at $550 per square foot.
Apple has been on a Bay Area real estate spending spree, with three deals totaling $882 million. Last month, it also bought the neighboring 615 and 625 North Mathilda Ave. properties for $350 million. The iPhone maker also paid $166.9 million for the three-building Cupertino Gateway at 10200 North Tantau Ave., next to its headquarters. Apple had been leasing all those buildings, as well as three of the buildings at the Mathilda Campus.
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