Apple has purchased Cupertino Gateway, a three-building office complex located at 10200 North Tantau Avenue in California, for $166.9 million
The Mercury News reports the deal covers about 220,000 square feet of office space and was finalized on June 24, according to filings with the Santa Clara County Recorder’s Office.
Apple Acquiring Leased Properties
Apple had already been leasing the property, which sits just south of Apple Park, and is identified as Apple Tantau Seven. The company has been converting leased buildings into owned properties over the past few years to give it more control over the real estate it relies on, without the need for major new construction.
This purchase of offices by Apple, which currently has about 25,000 members of staff on-site at Apple Park and other West Coast comes as many tech firms are listing unused space, or pulling out of long-term leases altogether, to save costs.
