Microsoft Corp is planning to sell a property on the edge of the company’s campus in Redmond, Washington, to a development firm that wants to build an apartment project on the site.

American Capital Group is looking to buy the 5.2-acre Microsoft property, which includes a 42-year-old high tech/high flex building. American Capital Group co-owner and President BJ Kuula confirmed that the goal is to start construction on the project in the spring or summer of 2026, reported the Puget Sound Business Journal.

CBRE has the listing for the site, which is located at 3050 152nd Ave. NE, across the street from the new Redmond Technology Link Station. The sale is scheduled to close at the end of 2025. The assessed value of the property is $41.5 million. Eighty percent of the 641 units will be market rate, and the remainder will be rent-restricted through the city of Redmond’s multifamily tax exemption program.