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This article from "San Jose Mercury News" - on-line - , dated July 21, 2011
Apple leases Cupertino office space that can hold up to 1,300 workers
By George Avalos
Apple (AAPL) has struck a deal to lease a big office campus in Cupertino just west of De Anza College, in a move that would enable the tech titan to occupy the complex with more than 1,000 workers.
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."
Apple didn't respond to multiple requests for comment.
Up to 1,300 people could work at the Results Way complex. That number is derived from parking ratios supplied by the city of Cupertino.
The complex consists of nine buildings, according to an offering flier issued by the property owner, Belmont-based Embarcadero Capital Partners. The buildings are being marketed by brokers from the San Jose office of Colliers International, a commercial realty brokerage.
Embarcadero Capital executive Andrew Brown declined to comment. Colliers agents declined to discuss the situation.
"I would expect some renovation work will be done there before Apple moves in;' Kline said. Apple has been planning a far-ranging expansion in Cupertino that goes well beyond the latest deal.
In early June, Apple disclosed a proposal for what's been dubbed the company's "spaceship" campus, which would contain 13,000 employees and serve as Apple's headquarters. CEO Steve Jobs appeared at a Cupertino City Council meeting to unveil the plans.
"Apple is going through remarkable growth," said Todd Shaffer, a senior vice president with Cornish & Corey Commercial, a realty frm. "Results Way is one of the few large campuses that they could lease. Apple has been expanding aggressively in Cupertino."
Apple may have to cast a wider net if it wants to find more offices to occupy.
"With the demand that we are seeing from Apple, they are starting to outstrip supply in Cupertino," said Rob Shannon, a senior vice president with CB Richard Ellis, a commercial realty firm. "Cupertino and Mountain View are pretty much out of space."
Apple is far from alone. Expansions in Mountain View by Google (GOOG) and a push into Menlo Park by Facebook, along with a leasing boom in Sunnyvale that includes Microsoft, Hewlett-Packard (HPO), Motorola Mobility and Dell, have combined to gobble up huge chunks of office space in northern Silicon Valley.
The leasing frenzy is so active that brokers report they often barely make spaces available before big tech tenants start inquiring about the offices.
"you have to go back to the late 1990s to see this kind of expansion;' Shannon said. "This shows how well our tech companies are doing."
Contact George Avalos at 925-977-8477. Follow him at twitter.com/george_avalos.