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10/05/15
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Tech giant Apple has closed on a large Bay Area real estate buy, acquiring 101 Tech Center in San Jose from San Francisco-based Ellis Partners. The property is located at 2325 Orchard Pkwy, west of I-880 and just north of Hwy 101.
101 Tech Center contains 285k sf of space along with 12 acres of land that is currently approved for an additional 665k sf of space. Apple had leased all of the existing space at the property earlier in the year.
According to industry reports, Apple paid about $165 mil for the asset. Michael McMillan of Cushman & Wakefield represented Ellis Partners in the sale. Ellis Partners had picked up the property back in 2011 for $48.5 mil, or $167/sf.
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