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How Much Did Alpharetta Move Cost Fiserv?
October 28, 2015
So how much did that little HQ move from Peachtree Corners to Alpharetta cost Fiserv? According to a recent SEC filing, in excess of $60M. The software firm reports that it spent $62M on capital expenditures primarily due to its move to Cobalt Center at 2900 and 2950 Westside Pkwy in Alpharetta earlier this year. That price tag was offset by $25M of landlord reimbursements and $37M of "non-reimbursable building expenditures." The move by the company put the CMBS loan tagged to its former Peachtree Corners campus in potential monetary default. But as we previously reported here, the campus could have a buyer that would save it from that fate.
