Nvidia widens South Bay property holdings with $350 million-plus deal
![Nvidia widens South Bay property holdings with $350 million-plus deal](https://www.eastbaytimes.com/wp-content/uploads/2024/05/SJM-L-SCLNVIDIA-x-01-1.jpg?w=1400px&strip=all)
Nvidia has bought several office and research buildings in Santa Clara in a deal that tops $350 million.
SANTA CLARA — Nvidia has bought several office and research buildings in Santa Clara in a deal that tops $350 million and greatly widens the fast-expanding tech company’s holdings in Silicon Valley.
The artificial intelligence tech titan paid $374.3 million for eight buildings that occupy a site bounded by Central Expressway, Scott Boulevard, Walsh Avenue and San Tomas Expressway in Santa Clara.
![Office buildings on Central Expressway in Santa Clara within the Nvidia headquarters complex.(Google Maps)](https://www.eastbaytimes.com/wp-content/uploads/2024/05/SJM-L-SCLNVIDIA-x-02-1.jpg?fit=620%2C9999px&ssl=1)
Nvidia, acting through an affiliate, bought the eight buildings, along with two parking garages, in an all-cash deal, documents filed on May 2 with the Santa Clara County Recorder’s Office show.
The deal shows that in some instances, office buildings in the Bay Area can command rising property values despite a feeble commercial real estate market in the nine-county region.
That’s because the seller in the deal, Los Angeles-based Preylock, an investment firm and asset manager, bought the buildings in 2017 and paid $240.4 million for the properties, county real estate records show.
The sites Nvidia bought are adjacent to and near the tech company’s modern and futuristic-looking headquarters complex at 2788 San Tomas Expressway.
The just-bought properties could be redeveloped with new office and research buildings, potentially totaling up to 2 million square feet, according to Santa Clara city planning records.