Apple is working on a land deal that would allow the company to expand their headquarters to a 4.15 million square foot office in the northern part of San Jose, California, according to the Silicon Valley Business Journal.

If acquired, the property will provide additional space for the Apple "Spaceship" headquarters still under construction in Cupertino. The news comes on the heels of a series of high-profile leases and sales in the San Jose area.

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Nathan Donato-Weinstein of the business journal says that Apple is working swiftly to build on the site as soon as possible.

"I am actually obsessed with the whole deal," says Donato-Weinstein. "They want to buy the land instead of leasing it because they want to develop it on their own and in their own terms."

Based on the annual SEC filed by the company this year, Apple's projected capital expenditures are up by 34 percent in the fiscal 2016, while their other commitments such as tooling and equipment are set to rise another 32 percent in more than a year.

Apple recently released a statement about the news saying "We are proud to call the Bay Area home, as of today we have more than 25,000 Apple employees and once the Apple Campus office is opened we are expected to support more than 41,000 jobs in the area. We always want to make a positive impact in every community wherein we operate and we look forward to doing so in the next coming years." 

Tags Steve Jobs, Appe Inc., Apple headquarters