Cupertino, CA - Office Market Overview
Cupertino neighbors include the Alviso, Mountain View, and Santa Clara commercial real estate markets. While Cupertino is home to only about 60,000 people, the city is also part of the much larger San Jose metropolitan region with almost 2 million residents. High technology and software-related businesses are two of the main users of office space in Cupertino.
As of mid-2017, the Cupertino office market encompasses nearly 5.3 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Cupertino, CA, sees consistently strong demand due to the city's central location in California's Silicon Valley.
Cupertino, CA - Office Inventory Description
With the worldwide headquarters for Apple Computer being located in Cupertino, the demand for Class A office space in the city is robust. Class A and A+ office space in Cupertino makes up nearly 60% of the office inventory, while Class B space in the city adds just over 2.2 million square feet more to the Cupertino office market.
The Class A office market in Cupertino is home to numerous investment-grade properties, including the Cupertino City Center III on Steven Creek Boulevard, the Cupertino City Center IV, and the Cupertino Corporate Center at 1601 South De Anza Boulevard.
Top 10 Largest Office Buildings
in Cupertino
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Apple Park - 1 Apple Park Way | , 95014 | 2,880,500 | 2019 |
| The Hills at Vallco - Block 15 | , 95014 | 460,000 | n/a |
| The Hills at Vallco - Block 9 | , 95014 | 360,000 | n/a |
| The Hills at Vallco - Block 13 | , 95014 | 330,000 | n/a |
| The Hills at Vallco - Block 10 | , 95014 | 315,000 | n/a |
| Apple - Vallco Two | , 95014 | 311,038 | 1974 |
| Apple Park - Tantau 9 | , 95014 | 290,500 | 2017 |
| The Hills at Vallco - Block 14 | , 95014 | 280,000 | n/a |
| The Hills at Vallco - Block 11 | , 95014 | 265,000 | n/a |
| The Hills at Vallco - Block 12 | , 95014 | 240,000 | n/a |
Most Recently-Built Office Buildings
in Cupertino
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Apple Park - Tantau 9 | , 95014 | 290,500 | 2017 |
| Main Street Cupertino - 19319 Stevens Creek Blvd | , 95014 | 130,000 | 2015 |
| Main Street Cupertino - 19339 Stevens Creek Blvd | , 95014 | 130,000 | 2015 |
| 10900 North Tantau Avenue | , 95014 | 100,481 | 2009 |
| Apple - De Anza 12 | , 95014 | 58,390 | 2008 |
| 10200 South De Anza Blvd | , 95014 | 142,650 | 1998 |
| Apple Campus - IL1 | , 95014 | 196,100 | 1993 |
| Apple Campus - IL6 | , 95014 | 162,368 | 1993 |
| Apple Campus - IL2 | , 95014 | 157,922 | 1993 |
| Apple Campus - IL3 | , 95014 | 155,326 | 1993 |
Cupertino, CA - Green Office Space
High technology tenants are beginning to put the availability of energy efficient office space at the top of their must-have list. With over 350,000 square feet of LEED-certified, EPA Energy Star-rated, and otherwise green office space in Cupertino, developers in the city are doing their best to meet the demand for more green buildings.
A great example of a LEED-certified office building in Cupertino is the Apple - De Anza 12 building. Constructed in 2008, this property contributes over 58,000 square feet of LEED Silver-certified Class A office space to the Cupertino real estate market.
Home to companies like Apple and innovative corridors such as Silicon Valley, it comes as no surprise that California is home to six of the top 30 largest green office markets in the country. The 2017 National Green Building Adoption Index surveyed the top 30 office markets to gauge the growth of green building. Over the past 12 years, the percentage of green office space across these top markets has gone from less than 5% in 2005 to about 38% by mid-2017, a very impressive seven-fold increase in only a dozen years.
Cupertino, CA's Top Office-Using Sectors
The Cupertino office market sees an ever-increasing demand for space from top office-using sectors like high technology, education, computer & software businesses, and large corporate office users.
- High Technology – Seagate Technology, Four-Phase systems, and Packeteer generate demand for white collar office employment in Cupertino.
- Education – Institutions such as the Cupertino Union School District, the Foothill - De Anza Community College District, the Fremont Union High School District, and the numerous support businesses they attract, are all major users of office space in Cupertino.
- Computers & Software – Firms such as Apple and Chordiant help to create demand for white-collar office space in Cupertino.
- Corporate Offices – Security company Trend Micro and Bright Light are two of the many companies that drive the demand for Cupertino commercial real estate.
Cupertino Demographics
Population
- Total Population60,687
- Male Population(48.7 %) 29,535
- Female Population(51.3 %) 31,152
- Median Age41.10
Income/Financial
- Average Household Income$181,767
- Median Household Income$153,449
- Median Income 25-44$171,052
- Median Income 45-64$184,991
- Median Income Over 65$66,274
- Alviso Demographics
- Campbell Demographics
- Cupertino Demographics
- Gilroy Demographics
- Los Altos Demographics
- Los Gatos Demographics
- Los Gatos Town Demographics
- Milpitas Demographics
- Morgan Hill Demographics
- Mountain View Demographics
- Palo Alto Demographics
- San Jose Demographics
- Santa Clara Demographics
- Saratoga Demographics
- Sunnyvale Demographics
News
Bay Area, San Francisco Q3 2018 Office Sales – Prices In Bay Area Climb Above $500 Mark
November 21, 2018
Executive Summary Top Deals: Office portfolios and joint venture investments show sustained market confidence Bay Area office prices soar past $500 per square foot in 39% Y-o-Y increase San Francisco office sales dip below $1 billion End-of-year pipeline dominated by Bay Area developers, major t...
California Q1 2018 Office Sales: Smaller Markets Pick Up the Slack for LA, San Francisco
April 18, 2018
Executive Summary Q1 Overview: Sacramento posts highest growth in dollar volume, average prices Los Angeles on cooldown after hot Q4 2017 Bay Area office sales drop below $1B after 2-year streak Sacramento average prices reach 5-year high; sales spike 96% y-o-y Orange County prices inch above $3...
A couple of months ago, we conducted an analysis to see which were the top markets for office deliveries during the final leg of 2017. The fall-winter pipeline placed New York City at the top of the list, followed by the tech-driven San Francisco, Plano, Texas, and Cupertino, home to Appl...