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Transactions - SEPTEMBER 29, 2015

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Apple buys another property in San Jose

by Andrea Waitrovich

Apple continues to grow its San Jose office space. The tech company purchased the 101 Tech Center, an office property located at 2325 Orchard Parkway, for approximately $165.8 million from Ellis Partners.

Apple had signed a lease to occupy all of the space in the existing property earlier this year.

With the 27-acre site, Apple now has about 70 acres in San Jose’s North First tech corridor, across from the airport, according to the Silicon Valley (Calif.) Business Journal.The purchase includes a 290,000-square-foot building and 12 acres of undeveloped land, which is approved for 650,000 square feet of additional office space.

Ellis Partners purchased the site in 2011 for $48.5 million.

The recent acquisition follows Apple’s $138.1 million purchase of 43 acres of undeveloped land from Lowe Enterpris

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