Rubicon Point Partners has acquired the Shockwave Medical headquarters campus in Santa Clara, acting on behalf of Rubicon Point Fund II. The property, located at 5353 Betsy Ross Dr., consists of a four-building research and development campus totaling 201,078 square feet. Financial terms of the transaction were not disclosed.
The campus is fully leased on a triple-net basis to Shockwave Medical, Inc., a medical device company that operates as a wholly owned subsidiary of Johnson & Johnson. The 100% NNN lease structure places operating responsibilities on the tenant and provides Rubicon Point Partners with a long-term, income-focused investment anchored by a single corporate occupier.
Rubicon Point Partners co-founder and managing partner Ani Vartanian described the acquisition as the first step in a broader regional deployment strategy. Vartanian noted that the firm plans to execute a billion-dollar investment program over the coming years, targeting similar assets across the region. The firm is focused on mission-critical real estate leased to large, well-capitalized tenants in dynamic West Coast markets.
The Shockwave Medical campus fits within Rubicon Point Partners’ stated strategy of acquiring institutional-quality properties in supply-constrained, innovation-led markets. According to the firm, these locations benefit from long-term demand drivers tied to technology and innovation, supporting tenant demand for specialized R&D and corporate facilities.
CBRE National Office Partners served as exclusive advisor to Rubicon Point Partners in the transaction. The involvement of an institutional brokerage team underscores the investment-sales nature of the deal and the positioning of the asset within the core R&D and office segment of the local market.
The acquisition underscores continued investor interest in fully leased, single-tenant campuses that support critical business operations for global corporate parents. With Shockwave Medical backed by Johnson & Johnson, the property combines credit quality, specialized use, and a triple-net lease structure that aligns with the mandate of Rubicon Point Fund II.
