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Apple completed its purchase of the Mathilda Campus in Sunnyvale, California, for about $365 million in September 2025, according to later transaction reporting. The July 2025 headline that Apple was “expected to buy” the property described a pending deal; it is no longer the current status. Apple already leased most of the campus before buying it, making the transaction more about ownership and control of an existing workplace than adding an entirely new site.
Which campus did Apple buy?
The property is the Mathilda Campus, at 505–599 North Mathilda Avenue and 605 West Maude Avenue in Sunnyvale. Kilroy Realty was the seller. The complex contains approximately 663,000 square feet; one commercial real-estate account gives a slightly higher figure of 663,500 square feet. The San Francisco Chronicle described it as a four-building campus, while another commercial property report called it a three-building office and research-and-development complex, so the building count is not consistent across coverage.
Apple already leased 581,429 square feet there before the sale—about 88% of the reported campus area. The purchase therefore changed Apple’s relationship to space it largely already used; it does not by itself show that the company added an equivalent amount of new occupied space. The San Francisco Chronicle’s original report and Commercial Property Executive’s property account describe the site and its size.
What did Apple pay, and did the deal close?
Later reporting put the completed purchase price at approximately $365 million, or about $550 per square foot using the reported campus area. July 2025 coverage had described a pending transaction expected to close late in the third quarter; subsequent reporting said the sale was completed in September 2025. The Real Deal’s September 2025 account reports the completed purchase.
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At the time of the original reports, Apple had not confirmed or denied the pending purchase. Kilroy disclosed that it was under contract to sell a four-building Silicon Valley campus without identifying the buyer or property; its executives said a nondisclosure agreement restricted what they could share. The Chronicle reported Apple as the buyer based on people with direct knowledge of the transaction. The later completion reporting is why the deal should now be described as closed rather than merely expected.
How did the purchase fit Apple’s other 2025 property deals?
The Mathilda Campus was part of a series of substantial office acquisitions in Santa Clara County. The three transactions below totaled approximately $881.9 million, or about $882 million:
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| Property | Location and description | Reported price |
|---|---|---|
| Cupertino Gateway | Three-building complex at 10200 North Tantau Avenue, adjacent to Apple Park | $166.9 million |
| Mathilda Commons | 615 and 625 North Mathilda Avenue, Sunnyvale | $350 million |
| Mathilda Campus | 505–599 North Mathilda Avenue and 605 West Maude Avenue, Sunnyvale | Approximately $365 million |
The properties cluster around Apple Park: Cupertino Gateway is adjacent to the headquarters, and Mathilda Commons is next to the Mathilda Campus. That geography makes the set of deals more informative than the broad label “Silicon Valley campus.” The Real Deal later reported that additional purchases pushed Apple’s total 2025 office acquisitions above $1.1 billion; that full-year figure is distinct from the roughly $882 million for these three deals. See MacRumors’ account of the early purchases, the Mercury News transaction coverage, and The Real Deal’s year-end summary.
Why buy a property Apple already leased?
Apple has not publicly explained its specific financial or operational rationale for the Mathilda Campus purchase. Plausible interpretations—not confirmed company statements—include securing long-term control of space already used by Apple teams, reducing exposure to future rent increases or lease-renewal uncertainty, and gaining more direct control over renovations, security, parking, and workplace configuration. Buying a site beside other Apple properties could also help consolidate a South Bay footprint around Apple Park.
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The combination of an existing lease covering most of the campus and nearby acquisitions supports an interpretation of ownership consolidation and long-term regional control. It does not establish which Apple teams use the buildings, whether the company will change the existing occupancy arrangements, or whether the site will be redeveloped. Apple’s broader statement after earlier purchases was that it was proud to continue investing in facilities for its teams in the Santa Clara Valley; that comment was not a direct explanation or confirmation of the Mathilda transaction.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What was happening in the Silicon Valley office market?
Apple bought the campus amid a difficult office market shaped by remote work and technology-sector layoffs, but market figures depend on the period and measurement used. The Chronicle cited Sunnyvale office vacancy of about 18% at the end of the second quarter of 2025, compared with about 20.7% for Silicon Valley overall. It also reported that San Jose’s metropolitan return-to-office rate was 51.5% of its 2019 level for the week of July 16, 2025.
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A later Cushman & Wakefield MarketBeat report put overall office vacancy at 16.4% in Sunnyvale and 19.7% across Silicon Valley in the third quarter of 2025. These are separate snapshots, not directly interchangeable measurements. They provide context for the regional market, but do not establish that Apple bought the campus because it was inexpensive or that the transaction represents office demand across the industry. Cushman & Wakefield’s Q3 2025 report provides the later vacancy figures.
Apple was not the only technology company buying Bay Area property during this period: the Chronicle also noted major purchases by Nvidia and LinkedIn/Microsoft. Those deals occurred in the same broader market, but do not prove the companies shared Apple’s rationale.
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