Yahoo Considering Sale of Santa Clara Development Site
Yahoo is planning to put its 48.6-acre Santa Clara development site up for sale.
The Sunnyvale-based company, which has been talking reverse spinoffs and has come under fire from investors as it struggles to improve its bottom line, is in talks with potential buyers for the site, according to the Silicon Valley Business Journal. The company says it is exploring all options for the property, including a possible sale.
It's still possible a deal may not arise for the property, which Yahoo paid $106M to buy in 2006 as a future expansion site. The company has approval to built up to 3M SF of office and R&D space on the site in 13 buildings.
The property lies within Tasman Drive, Old Ironsides Drive, Patrick Henry Drive and Old Glory Lane. Yahoo demolished existing structures on the property but hasn't done anything else with the site since then. The property could sell for around $200M. [SVBJ, SJMN]