Blackstone Buys Nvidia’s Sunnyvale Hub for $99.6M [2026]
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Blackstone Real Estate has paid $99.6 million for a Sunnyvale office building leased entirely by Nvidia , according to county filings reviewed by Hoodline and The Registry Northern California Real Estate . The transaction closed on the 134,200-square-foot building at 350 Cobalt Way and was recorded with the Santa Clara County Recorder's Office on September 22, 2026. The price is more than triple what the previous owner paid just three years ago. It also lands at a moment when Silicon Valley landlords are chasing a different kind of tenant amenity: raw electrical capacity. The building carries 10 megawatts of power capacity, a figure that outlet reporting ties directly to why Blackstone moved on the asset now rather than waiting. Blackstone acquired the property through an affiliate. Nvidia leases the entire two-story building, which sits roughly five minutes from the chipmaker's headquarters. The lease reportedly runs through August 2036, giving Blackstone a 12-year runway of guaranteed rent from one of the largest companies by market capitalization on the planet. Not every early report landed on the same number. At least one outlet framed the deal as a $95 million purchase of a power-rich Nvidia building. That figure does not match the documents filed with Santa Clara County. Hoodline, The Registry Northern California Real Estate, and coverage tracked by The Real Deal all...
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