These 15 corporate campuses fill a big portion of Silicon Valley’s property tax coffers

These 15 corporate campuses fill a big portion of Silicon Valley’s property tax coffers

When Santa Clara County Assessor Larry Stone earlier this year unveiled the county’s annual assessment roll, it was filled with mostly good news.

The assessment, which reached $450 billion this year, is a snapshot of the real estate market as of the beginning of the year and gives analysts insight into some of the most fundamental parts of the Valley’s economy: real estate.

But if you’ve ever wondered what buildings or campuses contribute the most to that number, a new report by Commercial Cafe, a commercial real estate information services provider, gives us some insight. The group has mapped and listed the top 50 property tax payers in Silicon Valley in a new report.

The report used several resources to compile the list, including data on and tax values as assessed by individual counties.

The players and properties are those most would expect: Apple Inc. takes up two spots in the top-10, and its new Apple Park is, of course, the top spot. Meanwhile Google Inc., which is currently on a massive buying spree across the Valley, takes up three of the top 16 spots.

Notably, Lockheed Martin’s corporate office in Sunnyvale lands at No. 7, even after the company has laid off hundreds of employees in recent years and sold a chunk of its former Sunnyvale campus.

And though some projects that opened after Jan. 1 may not be fully accounted for in the county’s assessment roll, like Apple’s 2.8 million-square-foot Apple Park, the numbers still increased by $30.9 billion year-over-year in the recent report from Stone’s office.

Commercial Cafe’s list includ es the $5 billion circular building, which was named Silicon Valley Business Journal’s Milestone Project of the Year for 2017.

The $30.9 billion growth for the Valley matches the dollar amount that the assessment roll has increased over the past two years and represents six consecutive years of positive office development and leasing. The fact that the number has stayed the same for three years straight also means the market is seeing also some stabilization, Stone said in June, when the report was released.

Whether that number will stay the same again next year remains to be seen, as Nvidia Corp. is aiming to wrap up construction on it its 525,000-square-foot Santa Clara campus by November — just in time for next year’s tax assessment.

Google has started construction on its 595,000-square-foot Charleston East campus and restarted work on its Bay View development, which is also in Mountain View, though it sits on federal land owned by NASA.

A potential 8 million-square-foot San Jose development by the search giant could also up future tax rolls in the county when or if it is completed and employees begin moving in, which would likely be years from now.

For now, take a peek at our slideshow of the top 15 property tax generators in the Valley. Below, scroll through the list of the top 50 property tax-producing real estate parcels in Silicon Valley as of today, created by Commercial Cafe.



# Property Name Main Parcel Address Parcels Tax Value Owner Industry
1 Apple Park* 19091 Pruneridge Avenue, Cupertino, CA 95014 8 $21,512,900 Campus Holdings Inc. – Apple Consumer electronics
2 Genentech Campus 44 Dna Way, South San Francisco, CA 94080 30 $20,303,764 Genentech Inc. Biotechnology
3 Tesla 45500 Fremont Boulevard, Fremont, CA 94538 4 $19,753,613 Tesla Motors Inc. Electric Vehicles, battery powertrains
4 Gilead Sciences Campus 355 Lakeside Dr, San Mateo, CA 94404 36 $16,340,790 Gilead Sciences Inc. Therapeutic viral medicines
5 Googleplex 1600 Amphitheatre Pkwy, Mountain View, CA 94043 45 $14,591,996 Google Inc. Internet, Computer software & hardware
6 Google Sunnyvale 1240 Crossman Ave, Sunnyvale, CA 94089 56 $12,212,133 Google Inc. Internet, Computer software & hardware
7 Lockheed Martin Corporate Office 1111 Lockheed Martin WY, unit BLD, Sunnyvale, CA 94089 5 $10,951,348 Lockheed Martin Corporation Aerospace, defense and security technologies
8 Apple Infinite Loop 1 Infinite Loop, Cupertino, CA 95014 6 $10,340,255 Apple Computer Inc. Consumer electronics
9 Intel Santa Clara Campus 3603 Juliette Ln, Santa Clara, CA 95054 9 $9,726,517 Intel Corporation Semiconductors
10 Moffett Towers 1100 Enterprise Way, Sunnyvale, CA 94089 2 $7,826,142 Jay Paul Company Commercial Real Estate
11 Westfield Valley Fair 2855 Stevens Creek Blvd, Santa Clara, CA 95050 6 $7,555,855 Westfield Corporation, Inc. Commercial Real Estate
12 Oracle Campus 300 Oracle Pkwy, Redwood City, CA 94065 17 $7,395,216 Oracle Corporation Enterprise software; Cloud Computing
13 Juniper Networks Headquarters 1133 Innovation Way, Sunnyvale, CA 94089 1 $7,016,614 Juniper Networks Networking equipment
14 VMware Campus 3401 Hillview Ave, Palo Alto, CA 94304 5 $6,837,761 VMware, Inc. Virtualization software
15 Yahoo! Sunnyvale Complex 701 1st Ave, Sunnyvale, CA 94089 8 $6,615,573 Yahoo! Web media company
16 Google Pacific Shores Center 1600 Seaport Blvd, Redwood City, CA 94063 16 $6,444,045 Google Inc Internet, Computer software & hardware
17 Applied Materials 974 E Arques Ave, Sunnyvale, CA 94085 3 $6,245,235 Applied Materials Inc. Chip-making equipment
18 HGST U.S. Headquarters 5601 Great Oaks Pkwy, San Jose, CA 95123 2 $5,494,106 HGST, Inc. Computer storage devices
19 Facebook HQ 1 Facebook Way, Menlo Park, CA 3 $5,478,538 Hibiscus Properties LLC – Facebook Social networking service
20 Stanford Shopping Center 72 Stanford Shopping Ctr, Palo Alto, CA 94304 3 $5,353,229 Simon Property Group Commercial Real Estate
21 Apple Newark Data Center 39800 Eureka Dr, Newark, CA 94560 1 $4,754,767 Apple Computer Inc Consumer electronics
22 DFT Data Centers 505 Reed St, Santa Clara, CA 95050 3 $4,740,707 DuPont Fabros Technology, Inc. Data Center REIT
23 Adobe Headquarters 151 Almaden Blvd, San Jose, CA 95113 4 $4,506,775 Adobe Systems Inc. Computer software
24 Samsung Semiconductor 85 W Tasman Dr, San Jose, CA 95134 1 $4,281,803 Samsung Semiconductor Inc. Consumer electronics
25 Oracle Santa Clara Campus 4220 Network Cir, Santa Clara, CA 95054 2 $4,220,765 Oracle Corporation Enterprise software; Cloud Computing
26 Britannia Shoreline Technology Park 2025 Stierlin CT, Mountain View, CA 94043 3 $4,178,619 HCP Commercial Real Estate
27 555 Mathilda 505 N Mathilda Ave, Sunnyvale, CA 94085 2 $4,138,950 Kilroy Realty Commercial Real Estate
28 Google Building RLS1 100 Mayfield Ave, Mountain View, CA 94043 10 $4,034,560 Google Inc. Internet, Computer software & hardware
29 Western Digital Fremont Office 44100 Osgood Rd, Fremont, CA 94539 1 $4,018,084 Western Digital Corporation Computer storage devices
30 Vi at Palo Alto 620 Sand Hill Rd, Palo Alto, CA 94304 1 $3,873,135 VI Senior Living Retirement Community
31 Regional Medical Center of San Jose 225 N Jackson Ave, San Jose, CA 95116 4 $3,686,485 HCA Healthcare Hospital
32 Google Bayhill Office Center 1111 Bayhill Dr, San Bruno, CA 94066 8 $3,647,260 Google Inc. Internet, Computer software & hardware
33 Concourse 1731 Technology Dr, San Jose, CA 95110 3 $3,588,006 Hudson Pacific Properties Commercial Real Estate
34 MetroCenter 950 Tower Ln, San Mateo, CA 94404 5 $3,586,643 Hudson Pacific Properties Commercial Real Estate
35 Campus @ 3333 3315 Scott Blvd, Santa Clara, CA 95054 2 $3,571,491 Clarion Partners Commercial Real Estate
36 Kaiser Center Tower 300 Lakeside Dr, Oakland, CA 94612 1 $3,430,794 Rockpoint Group Commercial Real Estate
37 Agilent Santa Clara Headquarters 5301 Stevens Creek Blvd, Santa Clara, CA 95051 1 $3,428,787 Agilent Technologies Electronic measurement tools
38 700 E Middlefield Road 700 E Middlefield Rd, Mountain View, CA 94043 5 $3,356,794 Linkedin Social network service
39 Westfield Oakridge 925 Blossom Hill Rd, San Jose, CA 95123 15 $3,343,710 Westfield Corporation, Inc Commercial Real Estate
40 Google Palo Alto Cluster 1129 San Antonio Rd, Palo Alto, CA 94303 30 $3,283,905 Google Inc. Internet, Computer software & hardware
41 KLA-Tencor Headquarters 1 Technology Dr, Milpitas, CA 95035 3 $3,267,671 KLA-Tencor Chip-making equipment
42 Paypal Headquarters 2181 N 1 St, San Jose, CA 95131 3 $3,167,603 Paypal Digital payment platform
43 Bayshore Technology Park 1600 Bridge Pkwy, Redwood City, CA 94065 4 $3,127,677 PGIM Real Estate Commercial Real Estate
44 Franklin Templeton Investments Campus 910-970 Park Pl, San Mateo, CA 94403 3 $2,991,272 Franklin Templeton Investments Financial Services
45 Pixar Animation Studios 1200 Park Ave, Emeryville, CA 94608 4 $2,769,422 Pixar Computer animation; Motion pictures
46 The Verdant 3700 Casa Verde Street, San Jose, CA 95134 1 $2,753,663 Fairfield Residential Residential Real Estate
47 Quadrus Sand Hill 2400-2460 Sand Hill Rd, Menlo Park, CA 94025 4 $2,671,643 DivcoWest & Henry J. Kaiser Family Foundation Commercial Real Estate
48 Santa Clara Square 2755 Augustine Dr, Santa Clara, CA 95054 1 $2,569,546 Irvine Company Commercial Real Estate
49 Metro Center – Visa Headquarters 800 Metro Center Blvd, San Mateo, CA 94404 4 $2,417,924 Visa Inc. Financial Services
50 Cadence Corporate Headquarters 2655 Seely Ave, San Jose, CA 95134 7 $2,399,774 Cadence Design Systems Software & Programming