Blackstone Snaps Up Sunnyvale Building Leased by Nvidia

An office and research building leased by Nvidia in Sunnyvale has been bought for $99.6 million, a significant increase from its sale price just three years ago.

The two-story structure at 350 Cobalt Way was sold to Blackstone Real Estate through an affiliate, according to documents filed with the Santa Clara County Recorder's Office on September 22.

The building was originally constructed in 1978 and renovated in 2022. It has a power capacity of 10 megawatts and Nvidia is conducting additional improvements on the property for possible data center capabilities.

Nvidia leased the entire building through August 2036, with its lease commencing after Fujitsu sold it to PSAI Realty Partners in January 2023. The sale price was $31 million at the time.