Apple signs major lease for nearly 314,000 square feet of industrial manufacturing space in Milpitas

“Apple Inc. has signed a major lease for nearly 314,000 square feet of industrial manufacturing space at McCarthy Creekside, a brand-new, multiphase development in Milpitas, according to real estate records,” Janice Bitters reports for the Silicon Valley Business Journal.
“The Cupertino-based iPhone maker’s 10-year agreement with project developer McCarthy Ranch for the single-story building at 407 N. McCarthy Blvd, a 313,978-square-foot structure, comes as industrial warehouse vacancy rates are shrinking to nearly zero in Silicon Valley,” Bitters reports. “The tech titan is rumored to be paying around $0.90 per square foot.”
“Apple’s newest lease is for one of two industrial buildings in the first phase of developer McCarthy Ranch’s two-phase McCarthy Creekside project tucked between Interstate 880 and Coyote Creek,” Bitters reports. “The first 136,000-square-foot building in the development was leased earlier this year to electric vehicle maker SF Motors, the U.S. Subsidiary of Chinese automaker Sokon Industrial Group.”
Read more in the full article here.
MacDailyNews Take: Hmm… industrial manufacturing.
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