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 million as it looks to build a new tech complex According to documents filed on July with the Santa Clara County Recorder s Office the tech company paid million for an office and research building at East Arques Ave The deal shows Applied Materials is assembling a growing number of properties in the Sunnyvale area In up-to-date years Applied Materials has been busy collecting varied properties primarily older commercial or industrial buildings The company s Sunnyvale purchase campaign began in when it bought a building at East Arques Ave In October the company paid million for a long-closed Fry s Electronics store at East Arques Ave county records show With the fresh purchase the producer of equipment and utility for the semiconductor industry has now paid 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 billion financing into the facility Applied Materials believes the site will be able to accommodate about Silicon Valley engineering jobs The site might also help even more jobs through collaborative efforts the company estimated The complex is slated to begin operations sometime in and become the hub for more than billion in Applied Materials research and advance endeavors over the first years of operations according to the company This outlay 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 commented in in a prepared release