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Apple buys new campus for $445 million to establish its San Diego presence
https://www.whatjobs.com/news/business-news/apple-buys-new-campus-for-445-million-to-establish-its-san-diego-presence
By Nithya Bose in Business News, posted July 28, 2022
Apple has splashed $445 million on a new campus as it looks to expand further into San Diego.
The tech giant has bought the seven-building Rancho Vista Corporate Center in Rancho Bernardo, San Diego.
The move reflects the Cupertino company's continuous attempts to establish engineering roots in the region.
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The iPhone maker had leased premises in University City and Rancho Bernardo as part of its previously announced plans to hire 5,000 workers by 2026.
The company said: “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.”
The current purchase is thought to be the tech giant’s first commercial property purchase in San Diego.
Job vacancies in the city on Apple's website include software, data science, and other non-hardware roles.
While Apple has had retail stores in San Diego for many years, it started creating an engineering operation there in 2018 when it announced plans to create a 1,200-person wireless technology hub.
The firm quadrupled its local staff to more than 5,000 employees over five years in 2021.
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Rancho Bernardo and UTC are the focal points of Apple's San Diego expansion.
The company's purchase of property in San Diego has some wondering if its local engineering efforts have expanded beyond smartphone processors.
The Rancho Vista Corporate Center, located on West Bernardo Drive, was sold by HP to Swift Real Estate six years ago for $69 million.
Swift spent $80 million to renovate the facility, which was finished in May 2020.
A new café, fitness center, expanded outdoor collaboration areas, and several sports courts are part of the renovation. There is also space for future expansion.
Source: The San Diego Union-Tribune
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