Fortinet has purchased a 27-acre tech campus in Santa Clara for $192 million.
The Sunnyvale-based cybersecurity firm bought an undisclosed number of office and research buildings at 3833 Kifer Road, SiliconValley.com reported. The seller was Texas Instruments, based in Dallas.
The all-cash deal comes on the heels of $134.7 million in properties bought by Fortinet in Sunnyvale and Santa Clara over the past dozen years.
They include a 95,800-square-foot industrial building the firm bought in 2021 at 1484 Kifer Road for $44 million, according to the San Francisco Business Times. Fortinet has poured $167 million into properties in Union City, including a 60,000-square-foot industrial building in 2022 for $65 million.
In 2021, Fortinet moved into a 172,000-square-foot headquarters at 909 Kifer Road in Sunnyvale, a half mile from its new tech campus.
Before selling the property, Texas Instruments leased 205,000 square feet of offices last spring at 4555 Great America Parkway.
Fortinet’s real estate expansion comes as its profits and sales soar.
The company earned $1.15 billion on revenue of $5.17 billion over a one year period ending in September 2023. Last year, it made the Financial Times’ list of fastest-growing companies.
— Dana Bartholomew
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