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01-13-2012, 02:19 AM #1
Apple Working to Lease New Office Space in Sunnyvale
Although Apple is moving forward on plans for its new 2.8 million square foot corporate campus in Cupertino, California, the company continues to grow with success of its products. The companyís interim space needs led them to lease an additional 373,000 square feet in Cupertino six months ago and soon thereafter, expanded its New York City presence to over 50,00 square feet as well. According to the San Jose Mercury News, Apple is working on deals to lease between 700,000 and 800,000 square feet of additional space in Sunnyvale, California, which is just adjacent to the companyís hometown of Cupertino.
According to the report, Apple has already signed the lease for a four-building complex in Sunnyvale, which totals 215,000 square feet. As of right now, the plans are to move into the facility by the end of this quarter. The company has also signed a lease for over 100,000 square feet in another two-building complex as well. It is currently being estimated that the new facility can house about 1,300 employees over the two sites and also cause the population of Sunnyvale to be pushed over 2,000 if it can track the additional space it is seeking. "Apple seems to be gobbling up everything they can," said Chad Leiker, a vice president with Kidder Mathews, a realty firm. "They are taking a ton of space."
The company has been overflowing its main campus in Cupertino for quite some time now and purchasing and leasing additional storage space surrounding the campus and other areas seems to be an expected step. The companyís plans for its new major campus intend to allow it to consolidate many of the space needs currently served by leased space into a single company-owned location. As the construction is being finished in the new campus though, the company will be forced to lease space over the next several years in order to handle itís workforce which continues to expand rapidly.
Source: San Jose Mercury News