Blackstone Snaps Up Power-Rich Nvidia Building for $99.6M

Blackstone Real Estate has acquired a 134,200-square-foot research building in Sunnyvale, California for $99.6 million. The property is leased entirely to Nvidia through August 2036 and carries roughly 10 megawatts of electrical capacity.

The building was previously owned by PSAI Realty Partners, which purchased it for around $31 million in 2023 after Fujitsu vacated the site. Nvidia signed a full-building lease in 2024, and the property has since become a crucial part of the chipmaker's Sunnyvale campus expansion.

Blackstone's acquisition is seen as a signal that electrical capacity, not square footage, now sets the price on Silicon Valley real estate tied to artificial intelligence. The deal highlights the growing demand for power in the region and the increasing value placed on existing capacity due to long utility interconnection queues.