Apple just spent $166M to buy a Cupertino campus it was already leasing

Apple is obviously rooted in Cupertino, and these roots just got a little deeper. City records show that the company has purchased Cupertino Gateway, a three-building complex located at 10200 North Tantau Avenue, for $166.9 million in cash. Here are the details.

As reported by The Mercury News, 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 had already been leasing the property, which sits just south of Apple Park, and is identified as Apple Tantau Seven.

Apple doubles down on acquiring familiar property

This isn’t new territory for Apple. As noted by The Mercury News, the company has been gradually converting leased buildings into owned properties over the past few years, especially in its hometown.

It’s a quiet but consistent strategy that gives Apple more control over the real estate it relies on, without the need for major new construction.

The timing is also interesting, as the purchase came just as Apple sold off a different office building in north San Jose, in a separate deal with Samsung.

Ultimately, the deal is also a good example of how Apple’s real estate approach stands apart from other major tech companies. While many firms are cutting back, listing unused space, or pulling out of long-term leases altogether, Apple continues to double down on key locations, especially in the familiar region of the South Bay.

Via Reddit