Apple Buys 43 Acre Development Site in North San Jose for $138 Million

Apple Buys 43 Acre Development Site in North San Jose for $138 Million

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Apple has purchased a 43-acre development site in North San Jose just weeks after establishing its first major presence in the city, reports the Silicon Valley Business Journal.

The deal for developer Lowe Enterprises' so-called "n1 Campus" closed last week, according to public records. Apple paid just more than $138 million for the property at 2347 North First St., according to a deed that I examined in person today at the Santa Clara County Clerk-Recorder's Office.

Only a few weeks ago Apple reached an agreement to lease the nearly 300,000 sq ft "101 Tech Campus" at 2325 Orchard Parkway which is almost next door to the land it's now bought. The new site is approved for up to 2.8 million sq ft of office space. That's about the same size as the huge Apple Campus 2 being constructed in Cupertino. However, Lowe Enterprises had been marketing plans designed by Gensler to build a 1.8 million sq ft urban-style campus. It's unclear if Apple is interested in those plans or whether it intends to design a new campus of its own design.

Sources say that Apple has been in the market for heavy R&D and industrial space. Perhaps the location could be used to advance its rumored self-driving electric car project.

Neither Lowe or Apple has commented on the sale as of yet. Please follow iClarified on Twitter, Facebook, Google+, or RSS for updates.

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Apple Buys 43 Acre Development Site in North San Jose for $138 Million
bilgates - August 4, 2015 at 2:08am
Here comes the Apple Car!!
Obamafailed - August 3, 2015 at 11:07pm
for that amount purchased apple could get thousands of Acre in Texas and less tax
Obamafailed - August 3, 2015 at 11:07pm
for that amount purchased apple could get thousands of Acre in Texas and less tax
LMAO.... - August 3, 2015 at 10:44pm
Araab - Obvious troll - but poor one nothing even witty. But you saying "F" Apple is like a tiny little flea saying "F" humans. Apple could care less about you. YA made me laugh tho....
Araab - August 3, 2015 at 9:03pm
FUK apple
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