The Silicon Valley sites of an electronics chain that filed for bankruptcy and abruptly shut all of its stores during the online shopping boom in 2021 continue to be scooped up for adaptive reuse projects.
According to documents filed this month in Santa Clara County, tech giant Applied Materials has closed on a $100M deal to acquire the 13.6-acre site of a 152K SF big-box Fry's Electronics store at 1077 East Arques Avenue in Sunnyvale, The Mercury News reported.
The premium purchase by Applied Materials is the latest addition in a five-year acquisitions binge that has seen the Santa Clara-based semiconductor equipment maker spend nearly $400M to buy or lease properties encompassing two dozen buildings and an estimated 2M SF along a four-mile stretch near Central Expressway in east Sunnyvale and North Santa Clara.
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