Apple confirmed Tuesday that it has acquired the seven-building Rancho Vista Corporate Center in Rancho Bernardo, a master-planned community in the northern hills of the city of San Diego, for $445 million.
The deal is believed to be Apple’s first commercial property purchase in San Diego. Up until now, the iPhone maker has leased buildings in University City and Rancho Bernardo as part of its previously announced plans to employ 5,000 workers locally by 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,” said Apple in a statement.
Apple Inc. is named as the buyer of the 67.6-acre campus… in a deed recorded Tuesday with San Diego County…
While the Rancho Bernardo sites are relatively close to each other, they are not necessarily within comfortable working distance, said Joshua Ohl, the San Diego director of market analytics for CoStar. He thinks Apple may view the Rancho Vista site as a place to consolidate operations in the future.
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