Apple has reportedly signed a 10-year lease on a 314,000 square foot warehouse in Milpitas, California.
The facility is an “industrial manufacturing space” located at McCarthy Creekside, a new multiphase development, according to the Silicon Valley Business Journal. It’s a single-story building, for which Apple is rumored to be paying about 90 cents per square foot.
The deal is said to have shrunk the warehouse vacancy rate in Silicon Valley from 1.5% to 0.7%. Tech firms in the area have been on an industrial space buying spree, with firms like Google and Micron snapping up industrial space in the San Jose area.
Developer Joey McCarthy told the Journal that McCarthy Creekside is intended for “industrial, R&D, [and] manufacturing” purposes. Apple will likely use the space for research and development or storage, as the Cupertino firm does little of its manufacturing in the United States.
AppleInsider supposes Apple may use the space to work on its self-driving vehicle platform, since the firm already uses scattered Bay Area facilities for that purpose. That seems like a reasonable supposition to us.
