Gary Dickerson Of Applied Materials Acquires Office Building From Michel A. Khalaf For $25.1M

Applied Materials acquired an office and research building located at 999 East Arques Avenue in Sunnyvale for $25.1 million. The property spans 79,800 square feet, translating to a price per square foot of $315.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $25,100,000
• Buyer: Gary Dickerson - Applied Materials
• Seller: Michel A. Khalaf - Metropolitan Life Insurance Co.
• Total SF: 79,800
• Price per SF: $315

This transaction marks a significant addition to Applied Materials' local property acquisitions, totaling $421.5 million. The purchase is part of a broader initiative to establish a $4 billion Equipment and Process Innovation Center, set to launch in 2026 and projected to generate over 2,000 tech jobs in the region.