A 184,600 square foot office building located at 3655 Kifer Road in Santa Clara.
SANTA CLARA — A medical device giant has embarked on the latest phase of a multi-year buying spree in Silicon Valley real estate. The healthcare technology company has spent hundreds of millions of dollars during that time on a buying spree.
Intuitive Surgical purchased several properties at and near the intersection of Keefer Road and Lawrence Expressway, paying a total of $157 million for the parcels, according to documents filed Dec. 22. .
Sunnyvale-based Intuitive purchased the property in three all-cash transactions.In either case, the seller
These aren’t the only properties Intuitive Surgical has purchased in the area in recent years, according to public property records.
Over a five-year period beginning in January 2017 and ending in January 2022, Intuitive Surgical spent at least $114.3 million to purchase numerous properties in Sunnyvale. This amazing shopping experience has significantly expanded the company’s footprint in the region.
This means Intuitive Surgical spent at least $271 million on land purchases in Sunnyvale and Santa Clara.
Intuitive Surgical also began construction in 2022 on a massive new campus at 950 Keefer Road in Sunnyvale, totaling 1.17 million square feet.
Intuitive Surgical appears to have purchased Santa Clara real estate for the first time, according to the latest real estate deal.
The newly purchased property is located in Santa Clara, but is still adjacent to the Sunnyvale property. A medical technology company is developing a new campus there, having previously spent well over $100 million on a series of real estate purchases.
Below are the Santa Clara properties that Intuitive Surgical purchased in recent transactions and how much the medical device company paid.
— $89.1 million to lease to Apple a research and office building on a property bounded by Keefer Road, San Ysidro Road, Tahoe Way and Semiconductor Drive.
— $78.1 million for a brand new office building totaling 184,600 square feet at 3655 Keefer Road, next to the Lawrence Expressway.
— $5 million for a small building at 2999 San Ysidro Road.
The purchase also included a parking lot, according to county documents.
Bayview Development Group, a veteran local real estate company operating in the South Bay, sold the parcel to Intuitive Surgical. Bayview has developed a new office building at 3655 Keefer. Commercial real estate company JLL is looking for tenants to fill an office building.
Countless office buildings in the Bay Area are vacant as people are forced to work remotely or from home in the wake of the coronavirus outbreak and resulting business shutdowns.
Despite the lifting of lockdown, the return to the office is progressing at an uneven pace.
As a result, office vacancies in the Bay Area are steadily increasing. That’s because technology companies are cutting back on space, in some cases laying off employees at the same time.
Intuitive Surgical, whose notable products include cutting-edge surgical robots, is looking to expand, in contrast to many tech companies that seek to downsize.