Apple Eyeing Bay Area Real Estate
There are some rumors from credible sources regarding Apple acquiring bay area real estate to expand its footprint. According to The Wall Street Journal, the Cupertino-based company is looking forward to buying “large expanses of real estate” in the San Francisco Bay Area for its much-talked about “Project Titan”. According to Hudson Pacific, who is one of the largest landlords of the Bay Area, the iPhone makers are not alone in this pursuit of land as Google’s parent company Alphabet and several other ace car manufacturers such as Mercedes-Benz and Tesla are also seeking more space to expand their projects.
“We’re seeing the Toyotas of the world, the Teslas of the world, BMWs, Mercedes. Ford now is out in the marketplace looking for space,” [Hudson Pacific Properties CEO Victor Coleman] said on the landlord’s quarterly investor call. “I haven’t even mentioned the 400,000 square feet that Google’s looking to take down and the 800,000 square feet that Apple’s looking to take down for their autonomous cars as well.” –Victor Coleman
Although the size which the CEO of Hudson Pacific Properties Inc, Victor Coleman mentioned is fairly big but usually a car production plant is much larger. For example, Tesla’s Fremont California Factory is 5.3 million square feet and Ford’s Flat Rock, Michigan plant, which is one of the smaller factories, is approximately 2.9 million square feet. Whereas on the other hand, Google’s Mountain View campus is 4.8 million square feet and Apple’s new headquarters is 2.8 million square feet.
Recently Apple has been quite active in terms of leasing more space for the secret“Project Titan” electric car project. In March, the tech giant leased a former Pepsi bottling plant in Sunnyvale, California. Apart from this other smaller buildings were also purchased and leased by Apple. Earlier this year in January, Apple was also successful in gaining approval from the San Jose city council to develop a 4.15 million-square-foot campus in the city.