Posted on 03/15/2023 11:00:18 AM PDT by Oldeconomybuyer
One of Silicon Valley’s legacy companies is getting rid of a giant piece of real estate.
Intel has put its four-building campus in San Jose on the market, as first reported by The Registry. That’s nearly 500,000 square feet of office space for the Santa Clara-based tech company, which has about 8,700 employees in the Bay Area, according to LinkedIn.
There is also more than 50,000 square feet of lab space across the buildings.
The 24.6-acre site includes parking for more than 800 cars surrounding 101, 121, 131 and 141 Innovation Drive. The Registry, which analyzed a marketing brochure from Colliers advertising the space, said that the deal would include a leaseback by Intel on all four buildings for approximately 12 to 24 months.
“As a hybrid-first company, we are continuing to assess and optimize our space utilization to create more vibrant workspaces for our employees when they are on-site, while also achieving cost reductions. As such, we will consolidate Intel’s San Jose Innovation Campus with our Santa Clara Mission Campus,” an Intel spokesperson said in a statement to SFGATE.
The company also has offices in Santa Clara, where the Intel Museum is located.
(Excerpt) Read more at sfgate.com ...
I was already making chips there in Santa Clara when Intel started up.
The city should eminent domain it, then put all the homeless in there. /s
(I really should be careful not to give them ideas like that...)
Ga-vin…. Ga-vin……. Ga-vin!
Five million new illegals need a place to live.
San Jose ain’t that smart. Plus intel’s campuses are not in the city limits. More like Cupertino
Micron is building a multi-billion dollar fab in Clay NY, not far from where I live.
Intel is building a $20 billion fab in Ohio.
Well, my real estate project wasn’t in our city either, until they arbitrarily moved the buffer zone without any announcement to include it in their tax base.
If they want it, they will do whatever it takes to get it if there is money to be made from it.
Intel is selling the property with the right to lease it back for up to 2 years because they are moving the company to another state.
I would be willing to bet that after the sale of the property, Intel will announce a move of their operations to Texas or some other state.
I used to work in one of those buildings.
Last time I checked, they are not used much anymore.
If it was RNB, the corporate HQ it would mean something.
On Google satellite, the parking lots are essentially empty.
I doubt it is because of work from home.
No they can’t. The Intel HW sit in Cupertino. San Jose can’t do jack about it
Fairchild??
Folsom and Phoenix area for Intel
Another major corporation leaving California and slick hasn’t a clue as to why.
Meanwhile Intel is building new facilities faster than you can count here in Chandler.
Start-up National Semiconductor in Santa Clara. Fairchild was in Sunnyvale.
I can’t remember what I forgot. Andy was brilliant.
Wagon wheel was close by.
Bobby Baker worked for me a long time ago. He was a power house.
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