Blackstone Snags Nvidia-Leased Sunnyvale Office Property

Blackstone Real Estate has acquired a fully-leased office and research building in Sunnyvale for $99.6 million. The property, located at 350 Cobalt Way, spans 134,200 square feet and is leased by Nvidia until August 2036.

The building was constructed in 1978 and underwent renovations in 2022. Nvidia has executed additional tenant improvements to the site, including upgrades that enable future data center capabilities. The property boasts a power capacity of 10 megawatts.

The sale represents one of several recent transactions in the Sunnyvale office market. In June, Apple purchased a nearby building for $162.2 million, and Hewlett Packard Enterprise sold part of the former Juniper Networks headquarters campus for $330.8 million.