Rubicon Buys 201K SF Santa Clara R&D Center Housing Johnson & Johnson Firm
Rubicon Point Partners has made a major purchase in Santa Clara, as it is just getting started to deploy capital in the region. The San Francisco-based firm has acquired R&D campus, Shockwave Medical headquarters.
The 201,078 square foot site gets its name from its 100 percent NNN lessee, Shockwave Medical, Inc, a medical device entity that has been wholly owned by pharmaceutical giant Johnson & Johnson since May 2024.
CBRE's National Office Partners division took on the lone role as the advisor in the deal.
Rubicon noted that it will continue to target institutional assets like Shockwave's global headquarters in Silicon Valley, thanks to the area's limited supply and innovative offerings. Ani Vartanian, co-Founder and managing Partner of Rubicon, said that this marks the start of its new investment strategy in the region, where it plans to invest at least $1 billion.
The company used Rubicon Point Fund II to pay for the campus, with the purchase amount unclear. Fund II, targeting what it calls "pricing dislocations" in the San Francisco Bay Area, had its first close in August 2025.
"This acquisition represents the quality and caliber of assets we will continue to target: mission-critical real estate leased to world-class tenants in the most dynamic markets on the West Coast," Vartanian said of the Shockwave buy.
The campus consists of four buildings and sits on 12.86 acres. A major feature of property includes investment-grade income security. Plus, the site is near other big-name tech giants, including Apple, Dell, Cisco and NVIDIA.
Source: GlobeSt/ALM