Yahoo Looking To Shed Bay Area Real Estate
As Yahoo prepares itself for a sale, the company is planning to shed nearly 1.2M SF of office space across the Bay Area. Bidders for the fallen internet company have mostly focused on technology assets while leaving real estate out in the cold.
Yahoo owns 8% of the office space in Sunnyvale, the sale of which would have a significant impact on the market, reports the San Francisco Chronicle. Mayor Glenn Hendricks expressed his hope that any disruption would be kept to a minimum during the transition.
Sunnyvale’s office market remains tight despite unease about the company’s demise. Ritchie Commercial president Mark Ritchie said Apple or another firm could easily buy up Yahoo’s offices.
The company's real estate holdings are said to be one of Yahoo's saving graces in an otherwise lackluster asset pool. Want to learn more about Silicon Valley's office market? Join us tomorrow at Bisnow's Silicon Valley Creative Office event in San Jose. [SFC]
