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.
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.