Fortinet, Inc. 10-K

ITEM 2. Properties Our corporate headquarters is located in Sunnyvale, California, and comprises approximately 395,000 square feet of building space on 21 acres of land and includes space for future development of PoPs. In January 2024, we purchased an additional 480,000 square feet of building space in Santa Clara, California, which is located in close proximity to our corporate headquarters and includes space for future development of a data center. Refer to Note 17. Subsequent Events, in Part II, Item 8 of this Annual Report on Form-10K for the February 2025 signing of a definitive agreement subject to regulatory approval for an additional 540,000 square feet of building space in Frankfurt, Germany. Along with our corporate headquarters, as of December 31, 2024, we operated the following facilities: Location Owned Square Footage Description of Use Union City, California 770,000 Warehousing, operations, and PoP Burnaby, Calgary and Ottawa, Canada 680,000 Data center, PoP, support functions and research and development Atlanta, Georgia 226,000 Sales and support functions and PoP Plano & Frisco, Texas 130,000 Office space and data center Torija, Spain 120,000 Data center Chicago, Illinois 114,000 Office space and PoP Sunrise, Florida 100,000 Office space Sunnyvale, California 97,000 Development Valbonne, France 70,000 Sales and support functions and PoP McMahons Point, Australia 40,000 Office space and PoP New York, New York 40,000 Sales and support functions and PoP We maintain additional leased offices throughout the world, predominantly used as sales and support offices and PoPs, and leased data center spaces throughout the world operated under colocation arrangements. We believe that our existing properties are sufficient and suitable to meet our current needs. We intend to expand our facilities, develop unoccupied space, or add new facilities to support our future growth and enter new product markets, and we believe that suitable additional space will be available or can be developed as needed to accommodate ongoing operations and any such growth. However, we expect to incur additional operating expenses and capital expenditures in connection with such new or expanded facilities. For information regarding the geographical location of our property and equipment, refer to Note 16 of our consolidated financial statements in Part II, Item 8 of this Annual Report on Form 10-K.