Apple property shopping spree tops half-billion dollars in South Bay

SUNNYVALE — Apple has bought a big South Bay office campus for $350 million in a deal that means the tech titan has now spent well over a half-billion dollars on Santa Clara County real estate — just this week.

The iPhone maker bought a two-building campus in Sunnyvale in the $350 million transaction, according to documents filed on June 26 with the Santa Clara County Recorder’s Office.

Gathering areas and offices at Mathilda Commons, a two-building tech campus totaling 382,500 square feet at 615 and 625 N. Mathilda Ave. in Sunnyvale, concept. (Jay Paul Co.)

The Sunnyvale purchase and other South Bay property acquisitions and leases have bolstered Apple’s efforts to strengthen the company’s decades-long presence in the region.

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“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.

The Sunnyvale campus that Apple has just bought has addresses of 615 and 625 North Mathilda Avenue in Sunnyvale, the county documents show.

To be sure, this Sunnyvale deal occurred at a jaw-dropping price and represents one of the largest office building purchases in the Bay Area so far in 2025. The deal appears to be the most paid for a property in Santa Clara County this year.

What’s more, the transaction for the Sunnyvale buildings was the latest major South Bay property purchase that Apple pulled off this week.

Apple paid just over $166.9 million to buy a three-building office campus at 10200 North Tantau Avenue in Cupertino in a deal that closed on June 24, county documents show.

The tech titan has paid about $517 million this week alone to buy five office buildings in the South Bay.

In both transactions, Apple was leasing the two office hubs from real estate firms that wound up selling the properties to the iPhone maker.

Jay Paul Co., a veteran and successful Bay Area real estate firm, had leased the Sunnyvale campus to Apple in 2022. The two-building office complex totals 382,500 square feet.

Potentially, the Sunnyvale office campus could provide enough space for 1,500 to 1,900 workers.

Apple’s purchase of the two Sunnyvale buildings points to robust and rising values for the office campus, which is called Mathilda Commons.

Why? The $350 million that Apple paid was 19.5% above the assessed value of $292.8 million for the Sunnyvale campus as of January 2024.

Cupertino-based Apple has been wheeling and dealing in South Bay real estate in recent years, primarily purchasing office buildings where it was already a tenant.

In recent years, Apple bought other office properties that it had been leasing in Cupertino, in a similar approach to the recent transaction.

Among the other Apple purchases:

— A $450 million deal in 2021 to buy a five-building office complex with addresses on North De Anza Boulevard, Mariani Avenue and Valley Green Drive near Interstate 280.

— The acquisition of a 10-building campus known as Apple Results Way in 2023. Apple and the seller kept the price secret.

— The $70 million purchase of an office building at 10200 North De Anza Blvd. in 2023. The deal represented a 35% decline in the building’s value, suggesting Apple got the building for a discount.

In at least one instance, Apple was a seller of a South Bay office building. Apple sold an office building in north San Jose to Samsung for $27 million in February 2025.