Apple signed a lease for 300,000 square feet of office space in San Jose last month, but the company might be eyeing a bigger expansion in the city, according to a new report that Apple just purchased a massive development site in North San Jose.
In a deal worth more than $138 million, Apple has purchased 43 acres of land at 2347 North First St., according to documents obtained by the Silicon Valley Business Journal. Apple has yet to announce its plans for the property, but it will be the company’s first significant presence into San Jose in decades.
Here’s a map of the land Apple just bought:
The 300,000 square foot building from Ellis Partners that Apple is already leasing is practically next door to the site the company just purchased. The undeveloped land could is approved for up to 2.8 million square feet of office space, which is about the same size as the spaceship campus under construction in Cupertino.
Lowe Enterprises, which sold the property to Apple, had been marketing plans to created a 1.8 million square feet urban-style campus. The company has taken its website for the plans down though now that the deal with Apple has gone through.
Apple’s move into San Jose’s North First Street jobs corridor is a huge win for the city. San Jose has been trying to attract top tech tenants to the area but has struggled to compete with San Francisco. Apple’s arrival could change things, but the company want to keep an eye out on its neighbors once it moves in. Samsung’s just opened up an office down the street.
Source: Silicon Valley Business Journal
