Apple is looking to purchase "large expanses of real estate" in the San Francisco Bay Area for its much-rumored car project, codenamed Project Titan,accordingtoThe Wall Street Journal. Google parent company Alphabet and several car manufacturers, such as Tesla and Mercedes Benz, are also on the hunt for more space, according to Hudson Pacific, one of the Bay Area's largest landlords.
Map of Apple's newly-purchased real estate in San Jose
“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.”
While the size Coleman references is fairly big, car production plants tend to be even larger. Tesla's Fremont, California factory is 5.3 million square feet while Ford's Flat Rock, Michigan plant, one of its smaller factories, is 2.9 million square feet. For comparison, Apple's new headquarters is 2.8 million square feet while Google's Mountain View campus is 4.8 million square feet.
In recent months Apple has been leasing more space repeatedly for its car project in the Bay Area. In March, Appleleaseda former Pepsi bottling plant in Sunnyvale, California. The Cupertino company has also leased and purchased severalsmaller, secret buildingslikely being used to developApple Cartechnologies. In January, Applegained approvalfrom the San Jose city council to develop a 4.15 million-square-foot campus in the city.
The WSJalso notes that Apple is in the process of growing its Apple Car team, which had 600 employees last year. Earlier today, it was reported that Apple had hired a former Google employee with experience in electric vehicle charging.
Author:Marilyn Cortez Phone: 956-587-1633 Dated: May 6th 2016 Views: 412 About Marilyn: Always ahead of the highly competitive RGV real estate market, Marilyn Cortez is a Spanish speaking ...
View our latest blog posts in your RSS reader. Click here to access.
Always ahead of the highly competitive RGV real estate market, Marilyn Cortez is a Spanish speaking native of the Rio Grande Valley. Born and raised in Mission, Marilyn is committed to her clients, and is recognized as a Top Agent in the Greater McAllen Real Estate area, and within Keller Williams Realty. Since the start of her Real Estate career in 2007, she has sold over 40 million dollars of real estate. Known by her fellow real estate agents to be hardworking, honest, dedicated and motivated, Marilyn is knowledgeable in all areas of Real Estate and has built her business on results, with more than 70% of her clients being repeat clients.
4 Simple Ways to Invest in Real Estate BY ANDREW BEATTIE&nbs
"I find that Mrs. Cortez had a very pleasant attitude and worked diligently to find the house of my specification. She was able to work quickly and was very knowledgeable of the real estate contract transactions and evaluation of properties. She saved me a great deal of money and I was able to get the home that was an excellent fit for me."