Apple widens South Bay shopping spree with $216 million property deal

"CUPERTINO - Apple has widened its shopping spree for South Bay real estate by paying $216 million to buy two office buildings on Stevens Creek Boulevard in Cupertino, in a deal that further cements its Bay Area presence. The iPhone maker has now paid about $1.1 billion to purchase office properties in Santa Clara County so far this year. The purchases began in late June and have continued into this week."

""The Santa Clara Valley has been our home for nearly 50 years, and we're proud to continue investing in world-class facilities here that are designed to foster innovation and collaboration amongst our team members in support of our customers around the world," Kristina Raspe, Apple's vice president of Global Real Estate and Facilities, said in comments the company emailed to this news organization. The just-bought office buildings are located at 19319 Stevens Creek Blvd. and 19339 Stevens Creek Blvd. Apple occupies both buildings and had been leasing them from a Peter Pau-led affiliate for several years."

Apple paid $216 million in cash to acquire two office buildings on Stevens Creek Boulevard in Cupertino. The purchases raise Apple's 2025 Santa Clara County office acquisitions to about $1.1 billion. The seller group includes principals led by Peter Pau of Sand Hill Property Co. The buildings are part of the mixed-use Main Street Cupertino complex and are located at 19319 and 19339 Stevens Creek Blvd. Apple already occupied and had been leasing the buildings. The 19319 property totals about 136,600 square feet and the 19339 property about 129,900 square feet. Cushman & Wakefield brokers Erik Hallgrimson and Brandon Bain handle leasing.

Read at The Mercury News