Feb. 20 (Bloomberg) -- Nvidia Corp., a maker of graphics processors, is planning to build a new headquarters office campus near its current base in Santa Clara, California, Chief Executive Officer Jen-Hsun Huang said today.
The campus, to be built on a 24-acre (9.7-hectare) parcel that Nvidia purchased in 2008, will consist of two buildings, each with 500,000 square feet (46,000 square meters), the company said in a statement. It will use its cash reserves to pay for the first building, with construction scheduled to begin in June and occupancy planned for July 2015, Hector Marinez, a company spokesman, said in an e-mail. He declined to disclose the cost.
“The new Nvidia building will capture the ambition and imagination of our people,” Huang wrote in a blog post on Nvidia’s website. “It will stand at the intersection of science and art, just as our work in visual computing does.”
The first building will have two levels of offices and laboratories and two floors of underground parking. The second building doesn’t have a timetable and will be constructed “when growth requires it,” Marinez said.
The project’s architect is Gensler, led by Hao Ko, according to Huang’s posting. The site in Santa Clara is west of San Tomas Expressway and bordered by Central Expressway and Walsh Avenue, Nvidia said.
Commercial-property sales in the San Jose area, the center of Silicon Valley, advanced 38 percent last year to $1.85 billion, while office sales in San Francisco surged 93 percent to $6.37 billion, according to preliminary data from Real Capital Analytics Inc. Office sales in the San Francisco metropolitan area, including North Bay cities such as Santa Rosa, increased 81 percent to $9.35 billion, the highest total since $21 billion of deals in 2007, according to the New York-based research firm.
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