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Ken Xie Of Fortinet Acquires Seven Industrial Parcels From Intuitive Surgical For $47M In Sunnyvale

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SOLD
$47,000,000

California

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Industrial
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Ken Xie Of Fortinet Acquires Seven Industrial Parcels From Intuitive Surgical For $47M In Sunnyvale

909 Kifer Road

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Industrial
Sold
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Transaction Type:Sale

Fortinet acquired seven parcels located at 909, 927, 933 Kifer Road and 150, 158, 164 & 170 Commercial Street in Sunnyvale. The industrial properties were sold for a total price of $47,000,000, and the transaction was executed as an all-cash deal. This acquisition is part of Fortinet's strategy to expand its regional campus and is aimed at assembling an adjacent headquarters campus across Silicon Valley.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $47,000,000
  • Buyer: Ken Xie - Fortinet
  • Seller: Intuitive Surgical
  • Date of Transaction: 03/04/2026
  • Market: Sunnyvale

Ken Xie represented Fortinet in this acquisition, underscoring the company's commitment to expanding its footprint in the region. The purchase of these parcels complements previous acquisitions Fortinet made in nearby cities, aligning with their long-term strategic objectives.

Players

KX
Ken Xie
3 deals$132.8M volume
BUYER
IS
Intuitive Surgical
SELLER

Details

SOLD
IMAGE: Ken Xie DATE: 03/04/2026 ADDRESS: 909, 927, 933 Kifer Road, 150, 158, 164 & 170 Commercial Street MARKET: Sunnyvale ASSET TYPE: Industrial BUYER: Ken Xie - Fortinet (@Fortinet) SELLER: Intuitive Surgical (@IntuitiveSurgical) SALE PRICE: $47,000,000 NOTE: Fortinet acquired seven parcels in Sunnyvale from Intuitive Surgical for $47 million in an all-cash transaction, continuing its regional campus expansion near 909 Kifer Road. The purchase supports Fortinet’s strategy to assemble an adjacent headquarters campus across Silicon Valley, including prior acquisitions in nearby cities.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$166,981.07
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