The artificial intelligence chipmaker Nvidia has reportedly shelled out $123 million for a new office campus next to its Santa Clara headquarters. The new site, at 2348 and 2350 Walsh Avenue, spans 10 buildings and is part of a significant expansion spree for the company. The recent purchase was reported by The Real Deal this week.
In connection with its expansion plans, the company, which has been aggressively acquiring property in the area for the past year, also snapped up an all-cash deal of a 500,000-square-foot office campus previously owned by Mountain View-based Sobrato Organization, next to its growing hub. Just three months ago, the size of the deal, while not disclosed, is part of an assertive real estate play by Nvidia as it reinforces its foothold amidst the rise of its AI chips and the market challenges like the emergence of Chinese chatbot DeepSeek.
According to details from Commercial Search, the tech giant purchased the Santa Clara Commerce Park property from Blackstone's Link Logistics. Large enough to merit a $2.7 billion CMBS loan, the property, revealed as part of a larger portfolio of 138 properties, has seen significant paydowns in the past due to property releases, leading up to its current matured note.
The strategic buy adds to Nvidia's hefty Silicon Valley footprint, which saw the company claiming a 550,000-square-foot headquarters last year at 2788 and 2888 San Tomas Expressway for $374.3 million from Preylock Holdings, as well as the lease of a north San Jose office at 300 Holger Way. Silicon Valley, renowned as a tech and innovation epicenter, keeps drawing office investments, clocking in a volume of $727 million for the first quarter in the Bay Area alone, said Commercial Search.
