Apple buys land for new campus in Austin, Texas

In addition to its upcoming spectacular ring-shaped building in Cupertino called Campus 2, Apple is also moving forward with plans to build another campus in Austin, Texas. The Austin Business Journal reports (via The Next Web) that Apple recently purchased three tracts of  land in the Milwood Section 20 subdivision near Parmer Lane and Delcour Drive, where its campus is thought to be built…

Apple bought this land from McShane Development Co. LLC, through its Riata Vista LP entity. The company’s CEO James McShane issued a media release which sheds more light on the Apple deal, credited to its vice president Joseph Llamaas:

His knowledge and skillful execution of the recent sale of the Riata Vista business park to one of the world’s largest technology companies affirmed his ability to navigate through the myriad of complexities to execute a transaction of this size and caliber.

According to The Austin Business Journal:

It’s unknown how much Apple paid for the land or how many acres it bought, but officials at two real estate brokerages, which did not want to be identified, confirmed that the long awaited deal had closed.

As revealed in April, Apple chose Texas for the state’s tax rebates worth $7.4 million over the next ten years, in addition to the nearly $30 million in tax breaks and incentives the company is already set to receive.

The new campus is expected to double Apple’s work force in the area, creating some 3,600 jobs. The two-phase buildout will consist of a 200,000 square-foot office, and a second nearly four times that size.

The new campus will be built on 38 acres at West Parmer Lane and Delcour Drive. Construction costs for the two buildings is estimated to be close to $300 million dollars, and could begin as early as this summer.

Looks like Apple’s recent successes have really put a pressure on Cupertino to expand its offices.

Sweet worries, no?