Intel Looks to Sell 25-Acre Innovation Campus in San Jose

Major tech companies have not been immune to the current economic volatility with layoffs and office closings frequently in the news. Now Intel Corp. is looking to sell its 25-acre Innovation Campus in San Jose, according to the Silicon Valley Business Journal. Located at 101 Innovation Drive, the property includes 500,000 square feet of office space, 57,000 square feet of lab space and an 800-car parking lot.

Intel, which announced it would reduce costs by $3 billion in 2023, told the Business Journal that it is continuing to optimize space utilization, and will consolidate the Innovation Campus with the firm’s Santa Clara Mission Campus, located at Montague Expressway and Mission College Boulevard.

Colliers is marketing the property, but no sale price has been disclosed. Any deal would reportedly include a leaseback by Intel on all four buildings for 1 to 2 years.