April 26, 2016 Comments Off on Irvine Co. Likely To Acquire AMD’s Campus Views: 430 California News, Orange County, West

Irvine Co. Likely To Acquire AMD’s Campus

Newport Beach, CA-based Irvine Company is reportedly acquiring a 32.5-acre office campus in Sunnyvale, CA from New York-based W.P. Carey for an undisclosed price. The REIT acquired the property, which is currently occupied by Advanced Micro Devices, in 1995 for $95 million.

The struggling computer chipmaker is also reportedly relocating from the 319,000-square-foot campus to another unnamed Silicon Valley property, in a move to reduce its footprint in the area by as much as 45%.

If AMD moves out, that would open the door for the Irvine Co. to purse a large-scale, residential development at a site zoned for residential. The company has been active in the region acquiring land to build apartments, a product type in high demand in the Bay Area.

Read More at Silicon Valley Business Journal

Connect with Irvine Company

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , ,

Comments are closed.