The Fortinet-owned building is located at 1550 Atlantic Street in Union City.
UNION CITY — Fortinet expands its shopping presence in East Bay real estate with the purchase of a commercial building in Union City. This is the latest in a series of real estate acquisitions that the technology company began eight years ago.
Fortinet spent well over $500 million on land purchases in Santa Clara and Alameda counties, including an extensive search for properties in the South Bay that significantly exceeded the company's activity in Union City.
In Alameda County, cybersecurity firm Fortinet spent an eyebrow-raising $209 million to build a Union City business, according to a review of Alameda County public records dating back to 2016 by this news organization. He said he has purchased some land and industrial land.
In the latest East Bay deal, Fortinet paid $14.8 million for an industrial building at 1550 Atlantic St. in Union City, documents filed Jan. 29 in the Alameda County Recorder's Office revealed. .
The seller is Northwood Design Partners, a custom-made furniture manufacturer, who will occupy the premises. The total building area at 1550 Atlantic is approximately 54,000 square feet, according to Property Shark's website.
Alameda County records show Fortinet has purchased nine parcels in Union City in eight separate transactions since 2016, including the latest transaction.
Sunnyvale-based Fortinet has begun an even larger acquisition effort in Santa Clara County. The initiative dates back more than 10 years to 2012.
Fortinet paid $326.7 million for a number of properties in Santa Clara County, according to a review of public real estate documents by this news organization.
The acquisition of the cybersecurity company also includes the company's current headquarters at 909 Keefer Road in Sunnyvale.
Fortinet's most recent and likely largest acquisition in the area, which was completed on January 26th, will bring the company to the massive Texas complex at 3833 Kiefer Road in Santa Clara and multiple offices and research buildings nearby.・Acquired Instruments Campus.
Fortinet paid $192 million for the 27-acre technology campus in an all-cash transaction, according to Santa Clara County documents.
In all, Fortinet paid $535.7 million to purchase properties in Sunnyvale, Santa Clara and Union City.
In comments emailed to this news organization on the occasion of the Santa Clara campus deal, the company made it clear that it is fully invested in Bay Area growth, as evidenced by ongoing real estate transactions. did.
“Fortinet is extremely proud to call the Bay Area home for more than 20 years,” Fortinet said in an email from the company's communications staff.
The potential expansion efforts come at a time when Fortinet's profits and revenue are skyrocketing.
For the year to September 2023, Fortinet had revenue of $1.15 billion on revenue of $5.17 billion. In the 2022 calendar year, Fortinet had revenues of $4.42 billion and revenues of $857 million.
“Fortinet has roots in the Bay Area and contributes to jobs and growth in the surrounding region,” the company said in an email.
