Apple Plans New Santa Clara Campus

The Oakland Tribune is reporting that Apple has closed a deal with developer Peery Arrillaga for a custom two-building campus in Santa Clara, California, just a short distance from their headquarters in Cupertino.

Apple and Peery Arrillaga declined to discuss the development and leasing deal. However, multiple sources with direct knowledge of the transaction told this newspaper that Apple has leased nearly 296,000 square feet from Peery Arrillaga in a deal that included demolition of existing buildings.

The campus would include two six-story office buildings that would hold 1,200 Apple employees. The first building, which is 188,000 square feet, is expected to be completed in mid-2014. The second building doesn't have a starting construction date yet, but will be 108,000 square feet. Recently, Bloomberg reported that Apple's "Spaceship" campus would be completed in 2016.