Apple has acquired a two-building office campus in Sunnyvale for $350 million, adding to a rapid string of high-value real estate purchases in California’s South Bay. The deal brings Apple’s total property spending in Santa Clara County this week to over $517 million.
The newly purchased site at 615 and 625 North Mathilda Avenue spans 382,500 square feet and could house between 1,500 and 1,900 employees. It’s located just under seven miles from Apple Park, the company’s global headquarters in Cupertino.
Apple had been leasing the Sunnyvale property from Jay Paul Company since 2022, a move consistent with its broader acquisition strategy. Cupertino-based Apple typically secures long-term leases before transitioning to ownership.
Value rises as Apple doubles down on leased sites
Documents filed with the Santa Clara County Recorder’s Office on June 26 confirmed the sale price. That figure is 19.5 percent above the property’s assessed value of $292.8 million as of January 2024, pointing to a rising demand and valuation for South Bay commercial space.
Kristina Raspe, Apple’s Vice President of Global Real Estate and Facilities, said the company remains committed to investing in the region. “The Santa Clara Valley has been home to Apple for more than 40 years, and we’re proud to continue investing in world-class facilities for our teams here,” Raspe told SiliconValley.com.
The Sunnyvale acquisition closely followed Apple’s $166.9 million purchase of a three-building complex at 10200 North Tantau Avenue in Cupertino. Both properties were previously leased before Apple finalized the deals this week.
According to SiliconValley.com, the Sunnyvale purchase is among the largest office deals in the Bay Area so far in 2025 and marks the highest paid price for a Santa Clara County property this year.
A pattern of strategic ownership
Apple’s current buying spree fits a pattern established over recent years. The company has repeatedly acquired buildings it once leased, consolidating control over key operational sites. Notable past deals include a $450 million purchase in 2021 of a five-building complex near Interstate 280, and a 10-building campus known as Apple Results Way in 2023, whose sale price remains undisclosed.
In 2023, Apple also secured a building on North De Anza Boulevard for $70 million, roughly 35 percent below its previous valuation, signaling opportunistic buying amid a volatile commercial real estate market.
Though Apple is mostly a buyer, it has occasionally offloaded assets. In February 2025, it sold a building in north San Jose to Samsung for $27 million.
The company’s latest acquisitions strengthen its long-term real estate position in Silicon Valley and reflect a sustained investment in on-site operations, even as hybrid work reshapes office demand elsewhere.
