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Jensen Huang Acquires Office Property From Brett Lipman In Santa Clara For $374M

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SOLD
$374,000,000

California

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Office550,000 SF
Sold 05/16/2024
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SOLD

Jensen Huang Acquires Office Property From Brett Lipman In Santa Clara For $374M

2788 San Tomas Expressway

See Similar Deals
Office550,000 SF
Sold 05/16/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$680
Total Square Footage:550,000 SF
Transaction Type:Sale

The property involved in the transaction is a 550,000-square-foot office located at 2788 San Tomas Expressway in Santa Clara. The sale price for this asset was $374,000,000, equating to a price per square foot of $680.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $374,000,000
  • Address: 2788 San Tomas Expressway
  • Market: Santa Clara

Jensen Huang, the CEO of Nvidia, purchased the office property from Brett Lipman of Preylock Holdings. The deal was facilitated by Steven Golubchik of Newmark, representing the parties involved. Nvidia's strategic move to secure its headquarters by acquiring the campus aligns with its growth plans and tech industry trends towards owning office spaces.

Players

Steven Golubchik
Newmark
Steven Golubchik
19 deals$2B volume
BROKER

Details

SOLD
IMAGE: Brett Lipman, Jensen Huang & Steven Golubchik DATE: 05/16/2024 ADDRESS: 2788 San Tomas Expressway MARKET: Santa Clara ASSET TYPE: Office BUYER: Jensen Huang (@Nvidia.ceo) - Nvidia (@Nvidia) SELLER: Brett Lipman - Preylock Holdings BROKER: Steven Golubchik - Newmark (@Newmark) SALE PRICE: $374,000,000 SF: 550,000 ~ PPSF: $680 NOTE: Nvidia has purchased its 550,000-square-foot headquarters in Santa Clara for $374 million, rejecting a nine-figure offer from a foreign investor, in a move reflecting its desire to join tech peers like Apple and Google in owning its headquarters and securing 2 million square feet of future development rights. The campus, previously owned by Preylock Holdings, was acquired for $680 per square foot, with Nvidia's expansion strategy evident through its aggressive office footprint growth in the area.

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