A major Silicon Valley computer firm has leased a nearly 102,000-square-foot building in Santa Clara.
Nvidia, based in the city, has expanded into a 101,893-square-foot building at 2421 Mission College Boulevard in Mission Technology Park, the Silicon Valley Business Journal reported.
The computer hardware and software designer leased the building in May for 10.5 years.
The deal came out to $3.85 per square foot, an unidentified source said. That’s 47 percent above the average asking price for research-and-development space in Santa Clara, according to data from Colliers, which reported the lease.
It’s unclear when the lease will start or when Nvidia will move in.
The Cupertino-based Sobrato Organization, which owns Mission Technology Park, renovated the campus and its four buildings between 2016 and 2020, adding new facades, lobbies with canopies, amenity areas, solar panels and landscaping.
Despite that work, Sobrato didn’t sign any tenants for the properties until this year, according to the source close to the Nvidia deal. Three of the center’s four buildings — 2431, 2441 and 2451 Mission College Boulevard — stand vacant.
The Nvidia headquarters is on San Tomas Expressway, 2 miles south of its newly leased building. The headquarters consists of 1.76 million square feet of office and research space, either owned or leased, according to the company’s annual report last spring. In February, the company completed a new 750,000-square-foot structure there dubbed Voyager.
Nvidia, founded in 1993, also leases multiple data centers in Santa Clara, including buildings next to its campus headquarters.
– Dana Bartholomew
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