14 DAY TRIAL // Apple is breaking ground on a new campus on the west end of Stevens Creek Boulevard and the 280 freeway, in Santa Clara, California. The company has struck a deal with developer Peery Arrillaga to lease the large campus for an unspecified sum.
The Mac maker is moving 1,200 or more workers to a custom-made two-building campus that has officially entered construction on the north side of Stevens Creek Boulevard in Santa Clara, just a glance away from the Cupertino city boundaries, according to MercuryNews.com.
Reed Payne, manager of the commercial realty brokerage Kidder Mathews' Northern California offices, says, “It's great that Apple and other companies such as Google (GOOG) are expanding in Silicon Valley.” Could’ve fooled us!
Apple and Peery Arrillaga declined to offer specifics about the contract, but people who have seen the papers told the newspaper that the lease is for 296,000 square feet. The deal included the demolition of some existing buildings.
When the project is completed, Apple will have two six-story office buildings, according to Ruth Shikada, Santa Clara's economic development officer.
“What Apple is doing is one of the highest levels of expansion we have seen for any company,” said Todd Shaffer, a senior vice president with the Santa Clara office of Cornish & Carey Commercial Newmark Knight Frank.
Tim Bajarin, principal analyst with Campbell-based market researcher Creative Strategies, chimed in to say, “Apple is doing well, which is whey have these aggressive expansion plans. You cannot underestimate Apple's ability to achieve innovation. Their products are in demand. They continue to hire.”
The new Santa Clara campus is not to be mistaken with the “spaceship” Campus 2 about to be erected in the company’s home town, Cupertino.
For comparison, while the Santa Clara establishment is expected to house roughly 1,200 employees, the Cupertino-based Campus 2 will provide working spaces for over 14,000 staffers.