Cupertino-based Apple has agreed to lease a 777,000-square-foot building in Sunnyvale at the corner of Wolfe Road and Central Expressway. The financial and technical terms of the deal were not disclosed, but Apple will lease the project instead of purchasing it, sources added.
“This expansion exceeds anything that the spaceship was meant to accommodate”, said Terry Bell, a senior vice president with Colliers global, a commercial realty brokerage.
The tech giant isn’t even close to completing its 2.8 million square foot “spaceship” campus in Cupertino, but the company has already “sealed a deal” for another piece of massive real estate in the area, according to the Silicon Valley Business Journal. (That same website also features a quote from Walter Isaacson, Apple co-founder Steve Jobs’s biographer.)Construction of the Central and Wolfe campus was approved previous year and will see nine existing buildings razed in favor of a new structure.
“Apple is clearly staffing up for something else besides the iPhone to supplement its income”, said Rob Enderle, an analyst who tracks the technology sector.
Apple has been rumored to be interested in self-driving cars or car-related technology.
Both Apple and the developer of the property, Landmark, declined to comment. The location is approximately five miles north of Apple’s second campus in Cupertino and is near other Apple office buildings in the Sunnyvale area. “The expansion dovetails with the growth of Apple’s product pipeline, with the next big category rumored to be the electric automobile”.