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 PropertyShark.com 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||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|