Apple Plays Real-World Monopoly with Purchase of $162M Office Building
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Apple is adding to its seemingly ever-growing real estate portfolio with a $162.2 million deal for an office building in Sunnyvale. The iPhone maker reportedly got the building for a nice discount, likely paying for the property out of its “That’s pocket change for us” fund.
Apple and huge companies like it are constantly on the prowl for additions to their property portfolios, due to a growing need for additional space for their new projects. Apple has spent more than $1 billion buying up properties in Cupertino and Sunnyvale over the last year or so. The new Sunnyvale real estate marks one more spot on Apple’s Monopoly board.
While Apple subleased the office building located at 684 W. Maude Avenue in Peery Park last year, ConnectCRE reports the company has more recently purchased the property. A Newmark Silicon Valley market report indicates Apple closed a deal to buy the building in late 2025.
The Peery Park property is located less than a mile from other Apple-owned Sunnyvale office buildings. The new Apple-owned property has 194,624 square feet of space spread across four floors.
Apple’s $162.2 million purchase price is a much lower price than the previous owners paid. The Real Deal reports that Union Investment Real Estate and Metzler Real Estate Advisors had acquired the building in 2022 for $222 million, meaning Apple scored a 26.9% discount on the property just three years later. LinkedIn was the leaseholder of the property at the time of the 2022 sale, although there is no evidence of the social network ever actually moving in.
The Peery Park property is just the latest acquisition, following at least three other property acquisitions in 2025.
In June 2025, the iPhone maker spent a mere $160 million on a 220,700 square-foot building in the Tantau office complex, close to Apple’s main headquarters at Apple Park.
In July 2025, it was announced that Apple had spent $250 million on a two-building campus located in North Mathilda in Sunnyvale. That complex had just a bit over 380,000 square feet, offering office space for 1,500 to 1,900 employees.
Later that month, Apple bought another four-building Mathilda campus for $365 million, located right next door to the earlier Mathilda purchase.
However, Apple is not only buying up property in the Bay Area. It’s also selling off properties it no longer needs. Earlier this week, we reported that Google’s self-driving sister company Waymo recently acquired a 5,500-acre Apple property located in Surprise, Arizona, that was widely reported as a key vehicle test site from back in the day when we all expected an imminent announcement of the mythic self-driving “Apple Car.”
While the owner of the land was technically Delaware shell company Route 14 Investment Partners, LLC, located in Arizona’s Maricopa County, that’s a shell company that had long been associated with Apple.
Apple currently owns or leases at least 15 office properties in the Sunnyvale area, and it’s almost a certainty that its acquisition spree won’t end anytime soon. In July 2025, it was reported that Sunnyvale had an 18% office vacancy rate, while nearby San Francisco was dealing with a 30% vacancy rate. Sounds like a buyer’s market to me!
