Monday, April 25th 2016

AMD HQ to Make Way for Luxury Apartments by the Irvine Company

The days are numbered for AMD's iconic Sunnyvale, California headquarters at One AMD Place (or 1090 E. Duane). The company is moving out of this property to another, smaller place elsewhere in Silicon Valley. AMD sold and leased-back this building to New York-based W.P. Carey in 1995 for $95 million, and has since been a tenant at the 319,000 square-foot campus, spread across a sprawling 32.5-acre site.

New Port Beach CA-based Irvine Company is set to acquire the site, and redevelop it into hundreds of apartments, according to multiple real-estate sources. With a shrinking payroll that's down to 9,100 today, following over 2,000 job-cuts since 2011, AMD is said to be moving to another location, and is in the market for a 175,000-225,000 square feet property to lease, elsewhere in Silicon Valley. This marks a 30-45% reduction in the company's office-space.
Source: Silicon Valley Business Journal
Add your own comment

17 Comments on AMD HQ to Make Way for Luxury Apartments by the Irvine Company

#1
qubit
Overclocked quantum bit
This might help the bottom line, but doesn't do much for their image.
Posted on Reply
#2
Frick
Fishfaced Nincompoop
Good riddance, that entrance is fugly.
Posted on Reply
#4
cdawall
where the hell are my stars
Fluffmeister
1 AMD Place to China Town.
Soon comrade soon
Posted on Reply
#5
natr0n
So they go from a nice HQ to probably a food truck parked outside Intel next to a hotdog vendor.
Posted on Reply
#6
WaroDaBeast
A logical decision after cutting down jobs. I don't really seen anything special about it, except maybe at the symbolic level. There will be knee-jerk reactions as always, though (remember all the complaints about renaming ATi Radeon to AMD Radeon?).
Posted on Reply
#7
rtwjunkie
PC Gaming Enthusiast
natr0n
So they go from a nice HQ to probably a food truck parked outside Intel next to a hotdog vendor.
LOL, the image of that just made me LOL! Good visual. :laugh:

I bet they still end up with a decent HQ.
Posted on Reply
#8
GhostRyder
Well lets see what they build next...
Posted on Reply
#9
geon2k2
Sad, another iconic brand fades away, slowly slowly.
200k square feet is still something, but its very little for an iconic technology company.
Posted on Reply
#10
Divide Overflow
BTW, it's Newport Beach, CA. Not New Port, CA.

Sounds like a wise decision for AMD. They need to look at everything to finally get into the black.
Posted on Reply
#11
john_
btarunr
W.P. Carey in 1995 for $95 million
I believe it was last year, 2015, not 1995.
Posted on Reply
#12
Slizzo
geon2k2
Sad, another iconic brand fades away, slowly slowly.
200k square feet is still something, but its very little for an iconic technology company.
To be honest, they don't really need a huge headquarters. They have no manufacturing on site, it's all office work. This is a good move for them.
Posted on Reply
#13
AsRock
TPU addict
following over 2,000 job-cuts since 2011
Point being ?, Intel cuts way more people of in that time line ?,
Posted on Reply
#14
Franzen4Real
AsRock
Point being ?, Intel cuts way more people of in that time line ?,
Actually, since 2011 Intel's workforce grew in size... But just recently announced a whopping 12,000 employee cut coming soon which accounts for 11% of its people. Maybe they should have bought that AMD building to move into.. heh

I think it is responsible of AMD for doing this move regardless of what image it may depict. Trimming excess is always something that should be considered.
Posted on Reply
#15
yogurt_21
Frick
Good riddance, that entrance is fugly.
agreed.

the move makes sense due to them leasing anyways, not having enough people or reason to fill it, and it is ugly as sin.

Time to go to a more modern building that fits their needs and is a place you'd be proud to bring inventors to.

Clearly WP Carey agrees as they're not trying to bring in any other corporations to fill it and instead are opting for apartments.
Posted on Reply
#16
RealNeil
Now maybe they can get off of DSL and get fiber connections,.........:eek:
Posted on Reply
Add your own comment