UNION CITY — A significant technology company has expanded its East Bay real estate shopping spree. This deal is a reminder that some Bay Area tech corporations are still pushing for expansion despite uncertain times.
Fortinet purchased an industrial and warehouse constructing in Union City for $16.2 million, in accordance with documents filed Aug. 28 with the Alameda County Recorder's Office.
This technology company's purchase of a constructing at 33372 Transit Avenue in Union City is the most recent in a series of property purchases within the East Bay community over the past eight years, county real estate records show.
With its most up-to-date East Bay deal, Fortinet paid a complete of $225.2 million to buy sites in Union City.
Fortinet's purchases are all situated in a business district near the Interstate 880-Whipple Road interchange and the intersection of Atlantic Street and Central Avenue.
The technology company's purchases in Union City are primarily business, industrial and warehouse buildings.
Fortinet has done a much larger property assembly within the South Bay.
According to this news organization's review of public real estate documents, the cybersecurity company paid a staggering $326.7 million for varied properties in Sunnyvale and Santa Clara.
Fortinet's purchases include land on which the corporate built its current headquarters at 909 Kifer Road in Sunnyvale.
Fortinet's largest deal within the South Bay got here in January 2024, when the corporate paid $192 million for a large Texas Instruments campus consisting of several office and research buildings at and near 3833 Kifer Road in Santa Clara .
In an all-cash deal, Fortinet paid $192 million for the 27-acre technology campus, county real estate records show. This was by far Fortinet's largest deal in Santa Clara County.
Fortinet has said little in regards to the long-term purpose of the South Bay and East Bay properties.
According to the PropertyShark website, the most recent Fortinet purchase is a constructing totaling 52,000 square feet.
Despite nearly three years of painful layoffs by tech corporations which have eliminated well over 43,000 jobs within the Bay Area, several tech corporations are still on the lookout for ways to expand their presence within the region.
In recent years, Google, Applied Materials, Intuitive Surgical, Fortinet and Apple have emerged with purchases of diverse properties within the South Bay and East Bay.
According to some experts, the true estate purchases of those and other corporations were made to permit these tech titans to own real estate for long-term growth and headroom.
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