Chipmaker Nvidia, now valued at $2.3 trillion, has purchased the majority of its Santa Clara headquarters for $374 million. The acquisition was reported by the San Francisco Standard on Thursday.
Nvidia acquired the eight-building property from its former landlord, Preylock Holdings, based in Los Angeles. According to published reports, Preylock paid $240 million to acquire the campus from DivcoWest in 2017 and recently auctioned off the properties after receiving an unsolicited bid from a foreign buyer.
This deal places Nvidia among high-tech giants such as Apple and Google who own their headquarters instead of leasing them. In addition to ownership of approximately two million square feet of future development rights, this purchase also includes possession of sole tenancy on the campus which has been occupied by Nvidia since 1998.
The article “Nvidia Acquires Silicon Valley Headquarters for $374M” was originally published on Connect CRE.
