Friday, January 6, 2023 11:29 amNo Comments

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Apple has purchased — for an unknown amount — a large Cupertino tech campus that the company had leased for more than a decade further solidifying Apple’s Silicon Valley foothold.

George Avalos for SiliconValley.com:

The tech titan bought the Apple Results Way Campus, an office and research complex that Apple leased in 2011 in a rental deal that at that time marked the company’s first foray west of State Route 85.

The campus that Apple now owns, according to documents filed on Dec. 23 with county officials, is located near the corner of Results Way and Bubb Road and is a short distance from the interchange of State Route 85 and Stevens Creek Boulevard, just west of De Anza College. It’s also a few miles from Apple’s spaceship office complex.

The seller was a corporate entity that is wholly owned by Apple. That entity, public documents show, is a designated successor of the actual prior owner, a Swift Real Estate Partners affiliate entity whose sole business purpose was to own the properties that Apple has just bought.

This byzantine process enabled Swift Realty Partners, the seller, to avoid paying a special levy called a transfer tax that is imposed by Santa Clara County officials when a property is purchased in instances when the buyer and the seller are two distinct entities or individuals.

MacDailyNews Note: The complex totals 383,700 square feet and is completely occupied by Apple.

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