Applied Materials property buying binge in South Bay tops $400 million with new deal
SUNNYVALE — Applied Materials has added a Sunnyvale property in a South Bay buying spree that now tops $400 million as it looks to build a new tech complex.
According to documents filed on July 15 with the Santa Clara County Recorder’s Office, the tech company paid $25.1 million for an office and research building at 999 East Arques Ave.
The deal shows Applied Materials is assembling a growing number of properties in the Sunnyvale area. In recent years, Applied Materials has been busy collecting varied properties, primarily older commercial or industrial buildings.
The company’s Sunnyvale purchase program began in 2018 when it bought a building at 928 East Arques Ave.
In October 2024, the company paid $100 million for a long-closed Fry’s Electronics store at 1077 East Arques Ave., county records show.
With the recent purchase, the producer of equipment and software for the semiconductor industry has now paid $421.5 million for properties in Sunnyvale.
The purchases could bolster a new tech complex Applied Materials is planning, known as the Equipment and Process Innovation and Commercialization Center.
The company is putting a $4 billion investment into the facility. Applied Materials believes the site will be able to accommodate about 2,000 Silicon Valley engineering jobs.
The site might also support even more jobs through collaborative efforts, the company estimated.
The complex is slated to begin operations sometime in 2026 and become the hub for more than $25 billion in Applied Materials research and development endeavors over the first 10 years of operations, according to the company.
“This investment presents a golden opportunity to re-engineer the way the global industry collaborates to deliver the foundational semiconductor process and manufacturing technologies needed to sustain rapid improvements in energy-efficient, high-performance computing,” Applied Materials CEO Gary Dickerson said in 2023 in a prepared release.