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ngrasys Technology USA has acquired six buildings in Sunnyvale, spanning 26.3 acres and totaling 313,700 square feet of flex offices for an estimated $128 million. The cloud infrastructure unit of Taiwan-based Foxconn purchased the properties at 1230-1280 East Arques Avenue from three affiliates of Menlo Park developer Lane Partners, which acquired them in 2020. The deal translates to approximately $408 per square foot.

    The previous tenants were various businesses of Fujitsu Electronics America, but Lane decided to sell the property instead of converting it into industrial buildings. Greg Matter of JLL represented Ingrasys in the purchase, citing the company's aim to enhance operations and meet customer demand by investing in the AI ecosystem. The land's proximity to semiconductor manufacturers like Nvidia was a strategic factor.

    Ingrasys designs servers, IT storage systems, AI accelerators, and data centers for companies such as Nvidia, and is also an investor in other tech firms, including Ramon Space. This acquisition marks Foxconn's expansion in the region, with existing offices in San Jose and other locations across the US.