Apple is expanding its presence in Sunnyvale once again by leasing a 125,800-square-foot building. If history repeats itself, Apple will buy it within a year.
Companies with a massive workforce are always on the lookout for more office space. In the case of Apple, it will be adding one more location to its roster in Sunnyvale.
According to sources of the Mercury News, Apple has agreed to lease a building located at 580 North Mary Avenue in Sunnyvale. The property, which weighs in at 125,800 square foot of office space, is being leased from the Bay Area real estate firm Peery Arrillaga.
The terms of the lease have not been leaked yet, but it will certainly cost Apple millions per year to occupy.
A building buying spree
While the property is being leased for the moment, Apple has the potential to buy it at a later time. This has become a habit of the company, choosing to lease before acquiring it fully.
Apple's June purchase of office space in June demonstrates this perfectly.
After leasing the office building at 684 W. Maude Avenue in Peery Park, Sunnyvale in 2025, Apple waited until later in the year to close the deal to purchase it. That 194,624 square foot property cost Apple $162.2 million, which was a considerable discount from its $222 million sale price in 2022.
Its Silicon Valley real estate moves in the area has also included a 2025 acquisition of a two-building campus in North Mathilda for $350 million. That was closely followed by another four-building Mathilda campus just next door for $365 million.
The same year, Apple paid $160 million for a 220,700-square-foot building in the Tantau office complex, close to Apple Park.
