Yahoo Puts Major Development Site Up for Sale

To learn more about current  Silicon Valley commercial real estate activities, attend Connect Silicon Valley on Feb. 9 at the Glass House in San Jose.

Yahoo has reportedly been experiencing drawbacks lately, and while the tech firm initially planned to develop 48.6-acres in Santa Clara, the land has been put up for sale to raise funds.

Yahoo had received approvals for three-million square feet of office and research and development space on the site, after purchasing the land in 2006 for $106 million. Last year, Yahoo and the San Francisco 49ers agreed to transform the property into a parking lot for the 49ers new Santa Clara stadium, but plans will have to be renegotiated if the land sells.

Yahoo is marketing the property through JLL. The land, which is very costly, is adjacent to Levi’s Stadium, which will be the site of next month’s Super Bowl.