SUNNYVALE — Apple has tentatively agreed to buy an office campus in the South Bay in a deal that extends the company’s shopping spree in Silicon Valley, according to sources who have knowledge of the transaction and were not authorized to speak on it.
Near the corner of North Mathilda Avenue and West Maude Avenue in Sunnyvale, the purchase price for the campus Apple is already leasing is expected to be in the vicinity of $365 million, sources said.
Kilroy Realty owns the tech campus. There were no guarantees that the purchase would be successfully completed. However, Kilroy Realty referenced the prospective transaction during a July 29 conference call with Wall Street analysts to discuss the company’s second-quarter financial results.
“We are under contract to sell a four-building campus in Silicon Valley for $365 million,” Eliott Trencher, Kilroy’s chief investment officer, said during the conference call.
The campus totals 636,500 square feet, a post on a Kilroy website shows. The addresses of the office buildings are 505 and 555 North Mathilda and 605 West Maude Ave. The campus also includes an amenities building that offers a fitness center, cafeteria, cafe areas, and outdoor seating in a large courtyard.
In June, Apple paid $516.9 million to buy two South Bay office hubs it was already renting.
The company paid $350 million for a two-building campus totaling 382,500 square feet at 615 and 625 North Mathilda Ave. in Sunnyvale and $166.9 million for a three-building office campus at 10200 North Tantau Ave. in Cupertino.
Apple previously bought other office properties it had been leasing in Cupertino.
In 2021, it paid $450 million for a five-building complex along North De Anza Boulevard, Mariani Avenue and Valley Green Drive near Interstate 280.
In 2023, it acquired a 10-building campus known as Apple Results Way. The company and the seller kept the price secret. Also in 2023, Apple paid $70 million for an office building at 10200 North De Anza Blvd. The deal represented a 35% decline in the building’s value.
In at least one instance, Apple was a seller in the South Bay. It sold a north San Jose building to Samsung for $27 million in February.
The purchase of the Kilroy-owned campus would bring Apple’s total purchases to roughly $881.9 million in 2025.
At the time of the second of the two purchases in June, an Apple executive said the company is continuing to deepen its ties and roots in the South Bay and is procuring top-notch workspaces for its employees.
“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,” said Kristina Raspe, Apple’s vice president of Global Real Estate and Facilities.