NortonLifeLock Puts Silicon Valley Real Estate Up for Sale
NortonLifeLock, formerly known as Symantec, has put ten large commercial buildings in California’s Silicon Valley on the market.
The cybersecurity company is seeking a buyer for the properties, which are all based in the Mountain View area, close to the Google Quad Campus. The ten buildings on the market are grouped into three separate campuses, not more than a few minutes' drive from one another.
Commercial real estate firm Cushman & Wakefield has been hired to help shift the properties, which together total 707,000 square feet.
According to The Orange County Register, the buildings are featured in a brochure being circulated on behalf of NortonLifeLock.
"Never before offered to the marketplace, the offering represents a generational opportunity to acquire a portfolio of 10 buildings totaling 706,737 square feet in the heart of Silicon Valley," states the brochure.
Mountain View was the site of Symantec’s headquarters for many years, but in November the company, under its new name NortonLifeLock, relocated its operational nerve center to Tempe, Arizona.
One of the three campuses for sale, described in the brochure as the "headquarters campus," is located at 350 Ellis Street. On this site are five buildings offering a total 428,000 square feet of office space.
The second campus, which is made up of research and office buildings totaling 128,000 square feet, is located at 455, 487, and 501 E. Middlefield Road. The final clutch of office and research buildings, which together offer 150,000 square feet of space, is at 515 and 545 N. Whisman Road.
In an effort to keep the ten properties together, NortonLifeLock is ideally seeking a single buyer for all three campuses.
The brochure states that "it is a strong preference of the seller for one buyer to acquire the entire portfolio," however, "individual offers on the various components may be considered."
NortonLifeLock's decision to put the properties on the market comes amid a concerted effort by the company to downsize. Over the course of 2019, the company announced it would be terminating 320 jobs in Mountain View and a further 82 in San Francisco. Source: Information Security Magazine