Apple Continues South Bay Buying Spree With $350M Investment

Apple has acquired 615 and 625 N. Mathilda Ave. in Sunnyvale, Calif., for $350 million. The property, which the company has already been occupying as a tenant, is a two-building office campus totaling 382,500 square feet. Jay Paul Co. sold the Class A asset, according to Yardi research data.

The deal represents one of the largest office building purchases in the Bay Area so far in 2025, according to The Mercury News. The purchase price is also the highest in Santa Clara County so far this year.

This was the latest for Apple in a string of recent South Bay acquisitions. Last week, the company purchased a three-building office property in Cupertino, Calif., for $166.9 million. The buildings are across the street from the firm’s corporate HQ.

A presence in the market for decades, Apple has purchased other office properties in the area since the end of the pandemic, presumably to accommodate employees returning to the office after a period of all-week remote work. That period came to an end in 2022, when CEO Tim Cook mandated a return to office for employees three days a week.

A LEED Platinum-certified office campus

The two office assets are part of the campus also known as Mathilda Commons. Apart from the four-story buildings that came online in 2021, the LEED Platinum-certified property also includes a 15,477-square-foot fitness center, a 9,704-square-foot rooftop terrace and a four-level parking structure. Floorplates average 42,000 square feet. Apple leased the entire complex in 2022.

The office park is just south of U.S. Route 101, some 11 miles from downtown San Jose, Calif., and less than 8 miles from San Jose Mineta International Airport. Apple Park is roughly 6 miles southeast.

Apple ramps up property investment

The recent deals are only the tip of the spear of a large investment by Apple in new, mostly non-office properties. The company plans to invest more than $500 billion in manufacturing facilities and initiatives nationwide over the next four years.

As part of this strategy, Apple and its partners will open a new advanced manufacturing facility in Houston to produce servers that support the company’s Apple Intelligence product. At 250,000 square feet, the factory is expected to come online in 2026.

Also in the next four years, Apple intends to hire around 20,000 people, most of whom to be focused on R&D, silicon engineering, software development and AI and machine learning. The expanded commitment involving these hires includes investment in Apple’s U.S. R&D hubs. 

Apple is also doubling the size of its U.S. Advanced Manufacturing Fund, which was created in 2017 to promote U.S. manufacturing jobs, increasing the fund from $5 billion to $10 billion.