Apple recently confirmed that it has purchased the seven-building Corporate Center in San Diego for $445 million as part of its previously announced commitment to bring 5,000 jobs to the area by 2026, and 1,200 jobs of those jobs will be added by the end of 2022.
Apple buys campus in San Diego as part of its commitment to adding 5,000 jobs in the area
As reported by the San-Diego Union Tribune, the 67-acre Rancho Vista is Apple’s first commercial property purchase in the region. Previously, the tech giant has leased buildings across University City and Rancho Bernardo.
Apple confirmed Tuesday that it has acquired the seven-building Rancho Vista Corporate Center in Rancho Bernardo for $445 million — highlighting the Cupertino company’s ongoing efforts to plant engineering roots in the region. The deal is believed to be Apple’s first commercial property purchase in San Diego. Up until now, the iPhone maker has leased buildings in University City and Rancho Bernardo as part of its previously announced plans to employ 5,000 workers locally by 2026.
“We’ve been part of the community in San Diego for more than two decades,” an Apple spokesperson told the publication, “and are thrilled to continue investing here as we expand our world-class teams.”
Rancho Vista Corporate Center was formerly used by HP before it left in 2016 and sold the campus for $69 million to Swift Real Estate firm. The firm went on to commence an $80 million campus-wide renovation project that was completed in May 2020, transforming the site into a Class “A” office/R&D campus. As described by Swift:
The renovation scope includes a new professionally managed café, fitness center, significantly upgraded outdoor amenity & collaboration spaces and multiple sport courts.
Apple initially announced plans to expand its tech hub in San Diego three years ago in 2019. At the time, the company revealed that it wants to make San Diego a vital engineering hub with new jobs available across several different engineering fields including both hardware and software.
The presence of chipmaker Qualcomm in the region has also sparked some rumors that suggest Apple may poach Qualcomm employees in an effort to design its own modems. Currently, Qualcomm does provide 5G modem chips for iPhone and iPad.