"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."
"A group whose principal executives include Peter Pau, president of Sand Hill Property Co. and the driving force behind some of the Bay Area's most high-profile redevelopment efforts, sold the property to Apple. Cupertino-based Apple bought the two office buildings through an all-cash deal, documents filed on Dec. 11 with the Santa Clara County Recorder's Office show. The buildings are part of the mixed-use Main Street Cupertino complex."
"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."
Apple bought two office buildings at 19319 and 19339 Stevens Creek Blvd. in Cupertino for $216 million. The purchases bring Apple's 2025 Santa Clara County office property acquisitions to about $1.1 billion. Apple occupied and had been leasing both buildings from an affiliate led by Peter Pau prior to the sale. The transaction was completed as an all-cash purchase with documents filed Dec. 11 at the county recorder's office. The buildings are part of the Main Street Cupertino mixed-use complex and total approximately 266,500 square feet combined (136,600 and 129,900). Cushman & Wakefield brokers Erik Hallgrimson and Brandon Bain are the leasing agents.
Read at www.mercurynews.com
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