San Diego, CA

Apple buys new campus for $445 million for vast San Diego expansion

Entrepreneur's Journal

Apple Finalizes San Diego Expansion

https://img.particlenews.com/image.php?url=2UYezF_0gwO0SV000
macdailynews

Apple reportedly put down $445 million for a 67.5-acre corporate center in the existing Rancho Vista Corporate Center in San Diego, as part of its ongoing plan to expand hardware and software engineering in the region. This will be a new corporate campus for the iPhone-maker.

The purchase comes after Apple vowed in 2021 to increase its workforce to more than 5,000 in the Southern California city.

Apple acquired the existing Rancho Vista Corporate Center in San Diego, as part of its ongoing plan to expand hardware and software engineering in the region.

According to Apple Insider, the Cupertino firm had been planning to purchase a campus since 2019.

In 2019, Apple pledged to add 1,200 new tech jobs to San Diego by 2022 and said it hoped to establish a new campus there. Since then, Apple continues to buy many buildings in Rancho Bernardo and University City.

Finally, it came up to the point that it also purchased a $445-million Rancho Vista Corporate Center in San Diego.

The acquisition will not only help Apple in expanding its services in the region. More importantly, it will generate more jobs for the local residents in San Diego. Apple says that about 5,000 employees are expected to work there in 2026.

“We’ve been part of the community in San Diego for more than two decades, and are thrilled to continue investing here as we expand our world-class teams,” Apple told the Union-Tribune.

In 2019, city officials said Apple planned to hire staff for hardware and software work. But Qualcomm’s presence in the region sparked rumors that Apple was focusing its efforts on replacing that company’s cellular modem processors.

The complex offers 809,769 square feet, and was formerly used by HP, which left in 2016. “Swift immediately commenced a $80 million campus-wide renovation project, which was completed in May 2020, transforming the site into a Class ‘A’ office/R&D campus,” according to Swift Real Estate Partners.

Comments / 1

Published by

We deliver the news you need to know about finance and trending topics through a straight forward and unbiased lens.

N/A
251 followers

More from Entrepreneur's Journal

Comments / 0