Nvidia has acquired another office building in Santa Clara, continuing its expansion in the area surrounding its headquarters. The company, through an affiliate, purchased the property at 2701 San Tomas Expressway for $83.2 million from Sobrato, according to a report by the Silicon Valley Business Journal. The building is 125,000 square feet and was already occupied by Nvidia before the sale.
This transaction follows Nvidia’s earlier purchase of three other buildings in the same four-building complex from Sobrato in May for $254 million. Each of those buildings—located at 2711, 2721, and 2731 San Tomas Expressway—was valued at approximately $84.8 million and also measures 125,000 square feet.
All four properties are located near Nvidia’s main headquarters at 2788 San Tomas Expressway and are connected by a pedestrian bridge. Last year, Nvidia bought its headquarters for $374 million.
The company is planning further investment in its headquarters area. Earlier this year, it filed plans to construct a new 324,000-square-foot office building as part of its campus expansion.
In addition to these purchases, Nvidia acquired a 10-building office and research campus on Walsh Avenue for $123 million in May and bought another property on Scott Boulevard for $4.5 million in July.
Nvidia has also been exploring expansion beyond Santa Clara within the Bay Area. According to reporting from the San Francisco Chronicle last month, the company is working on establishing a sales office in San Francisco with about 30,000 square feet of space and is reportedly close to leasing an additional 45,000 square feet at Mission Rock—a mixed-use development near Oracle Park led by Tishman Speyer and the San Francisco Giants.
Nvidia’s market capitalization recently surpassed $4.3 trillion as reported by CNBC (https://www.cnbc.com/2024/06/18/nvidia-nvda-becomes-most-valuable-company.html), placing it ahead of Microsoft, Apple, and Amazon as the world’s most valuable publicly traded company.
