Apple leases Triangle Building in San Jose, starts upgrades

SAN JOSE — Apple has leased San Jose’s prominent “Triangle
Building” perched along Interstate 280 and just a short distance
from the tech titan’s primary employment hubs in Cupertino.

The iPhone maker has leased all of the 86,000-square-foot office
building at 5300 Stevens Creek Blvd. in San Jose, according to
Santa Clara County public filings and sources familiar with the
rental transaction.

“Apple is a very strong company and they are continuing to
expand their operations locally,” said David Sandlin, an
executive vice president with Colliers International, a commercial
real estate firm.

Even after Apple’s move into the vast circular office complex
at Apple Park in Cupertino, the company has pursued an array of
transactions to obtain more office space, or assure itself of being
able to keep offices, either through leases or property
purchases.

These deals typically have been proximate to the company’s
primary Silicon Valley operations in Cupertino.

‘”Apple is attempting to grow locally whenever an
opportunity presents itself,” Sandlin said.

Outside of Cupertino, much of the company’s activity has been
to obtain leases in Sunnyvale, some of them involving big sites.
But Apple also has leased large office buildings and research
facilities in Santa Clara.

One of the Santa Clara sites involves offices Apple has leased
from legendary development firm Peery Arrillaga. This office space
is located on the north side of Stevens Creek Boulevard, across the
street from the Triangle Building.

Apple back in 2012 leased a section of the Triangle Building
with a rental agreement that would allow the company to exit the
building before the lease term was completed. But property listing
services indicated that Apple wasn’t continuously in the building
over the years.

Now, public records show that Apple is again a tenant in the
building, which is owned by an affiliate of Stockbridge Capital
Group.

A considerable amount of construction work is underway inside
the building. In   recent days, activity was underway on all six
floors of the building, and Apple logos were visible throughout the
property.

Cupertino-based Apple didn’t respond to requests for comment
about the lease and the interior upgrades on the office building,
which was constructed in 1981.

Tech companies frequently launch major upgrades to older
buildings to make them more attractive to their employees.

“Apple is going to continue to look for opportunities to
expand near Cupertino whenever it makes sense for them,” Sandlin
said.

Source: FS – All – Real Estate News 1
Apple leases Triangle Building in San Jose, starts upgrades