Apple on the grow; Leases large office space in Cupertino

Tue, Jul 26, 2011


It’s hard to believe that Apple is experiencing growth, both financial and otherwise, that’s seldom if ever seen in a company as large as Apple. Indeed, Apple’s recent earnings announcement where it reported 142% iPhone growth and 183% iPad growth, not to mention skyrocketing revenues, is simply astounding.

But it’s not just Apple’s bank account that’s growing, the company itself is quickly outgrowing its current confines at 1 Infinite Loop. This was made abundantly clear a few weeks ago when Steve Jobs made an impassioned speech before Cupertino’s City Counsel articulating Apple’s desire to build a massive new Spaceship styled campus on a 98 acre plot of land it previously acquired from Hewlett Packard. Apple’s proposed new campus will be able to house 12,000 employees and has a target completion date in 2015.

Jobs explained that Apple is in the midst of a significant growth period and is already forced to rent out a number of buildings adjacent to its famed 1 Infinite Loop Campus in order to accommodate its growing throng of employees. The initiative was received with enthusiasm by the folks in Cupertino, with Cupertino Mayor Gilberg Wong stating matter-of-factly that “there is no change we are saying no” to Apple’s proposal.

Now seeing as 2015 is a few years away and Apple continues to grow today, the company recently leased out even more office space in Cupertino. Apple’s latest real estate investment can house upwards of 1,300 employees.

Mercury News reports:

The lease deal in the old Measurex campus, now known as Results Way Corporate Center, allows Apple to rent 373,000 square feet. City officials and industry experts with direct knowledge of the transaction confirmed the rental deal.

“This is all good news for the city,” said Kelly Kline, Cupertino’s city economic development manager. “Apple is the premier corporation in Cupertino.”

The report also notes that Apple is close to maximizing all of its available options for more space in Cupertino, a problem shared by Google in Mountain View as well. As a result, a number of tech companies are snatching up space in nearby areas like Menlo Park and Sunnyvale.

“You have to go back to the late 1990s to see this kind of expansion,” a reality specialist in the area explained.

Hat tip: MacRumors


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