Apple is continuing to expand its presence in San Diego. The Cupertino-based company has acquired a seven-building office campus in Rancho Bernardo for $445 million, or about $550 per square foot, according to reporting by The San Diego Tribune.
The property, also known as the Rancho Vista Corporate Center, is a 67.5-acre office campus located at 16399 West Bernardo Drive. The 809,769 square foot office campus was previously owned by Swift Real Estate, public records show. According to a landing page for the property on Swift Real Estate’s website, the campus was acquired for $69 million in 2016 through a sale/leaseback transaction from Hewlett Packard.
In 2020, the company also completed an $80 million campus-wide renovation project, which transformed the site into a Class A office and R&D building. The renovations include a number of amenities, including a cafe, fitness center, collaboration spaces and more.
The purchase of the office campus will likely help Apple achieve its expansion goals in San Diego. In April of 2021, the tech company announced a $430 billion commitment to expand across the United States over the next five years. As part of its investment, the company announced plans to grow its San Diego team by 5,000 employees by 2026.
Previously, the company has leased several properties throughout San Diego. According to previous reporting from The Registry, the company signed two leases totaling 165,622 square feet in the third quarter of 2021.
The first lease signed was for 92,446 square feet at La Jolla Reserve in San Diego’s University Town Center submarket. The property is located at 4401, 4435 and 4445 Eastgate Mall. Also in the University Town Center neighborhood, Apple leased 73,176 square feet at its La Jolla Commons property at 4707 & 4747 Executive Drive.
