Friday, November 26, 2010

Apple buys old HP campus

Hewlett-Packard has found a buyer for its decades-old campus at 19091 Pruneridge Avenue in Cupertino.

About five minutes' drive from Apple headquarters, the 98-acre parcel of land is adjacent to 50 acres Apple acquired back in 2006 and will be used to house a workforce that's expanding nearly as quickly as the market for iOS devices.

"We now occupy 57 buildings in Cupertino and our campus is bursting at the seams," Apple spokesman Steve Dowling told the Mercury News, which first reported the story. "These offices will give us more space for our employees as we continue to grow."

No word on HP's asking price for the parcel, but real estate experts estimate that it may have been $300 million or more.

Story Copyright (c) 2010 AllThingsD. All rights reserved.

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1 comment:

Rightways said...

Both Apple and HP begin with garage culture, see 'old as gold'.

Successful entrepreneurs can see things 'slightly difference' from others. They see gold while others see sand.