UNION CITY — A big tech company expands its East Bay real estate binge with a deal that comes as a reminder that some Bay Area tech companies are still betting on expansion despite uncertain times. It is something that makes you
Fortinet purchased an industrial and warehouse building in Union City for $16.2 million, according to documents filed Aug. 28 with the Alameda County Recorder’s Office.
The technology company’s purchase of the building at 33372 Transit Ave. in Union City is the latest in a series of real estate purchases in the East Bay municipality over the past eight years, according to county real estate files.
In its latest East Bay transaction, Fortinet paid a total of $225.2 million for the Union City site.
All of Fortinet’s acquisition locations are located in the business district near the Interstate 880 Whipple Road interchange and the intersection of Atlantic Street and Central Avenue.
The technology company purchases primarily commercial, industrial and warehouse buildings in Union City.
Fortinet has begun assembling even larger real estate in the South Bay.
The cybersecurity firm paid an eye-watering $326.7 million for a number of properties in Sunnyvale and Santa Clara, according to a review of public real estate documents by this news organization.
Fortinet’s acquisition includes the site where the company built its current headquarters at 909 Keefer Road in Sunnyvale.
Fortinet’s largest transaction in the South Bay will take place in January 2024, when the company will move into the massive Texas Instruments campus of multiple offices and research buildings at 3833 Kiefer Road in Santa Clara and nearby. paid $92 million.
Fortinet paid $192 million for the 27-acre high-tech campus in an all-cash deal, county real estate documents show. This is Fortinet’s largest transaction to date in Santa Clara County.
Fortinet has said little about its long-term intentions for the South Bay and East Bay properties.
According to the PropertyShark website, Fortinet’s recent acquisitions include buildings totaling 52,000 square feet.
Despite nearly three years of painful layoffs by tech companies that have eliminated well over 43,000 jobs in the Bay Area, multiple tech companies are still finding ways to expand their footprint in the region. I’m looking for.
In recent years, Google, Applied Materials, Intuitive Surgical, Fortinet, and Apple have all come along and bought a lot of real estate in the South Bay and East Bay.
Some experts believe that real estate purchases by these and other companies were made to allow these big technology companies to own real estate for long-term growth and headroom.
