We selling a 53-acre piece of our 81-acre Santa Clara campus - both acreage and buildings included.
Is this part of the downsize move to Austin, TX and we don't need the space or is something else coming??
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https://news.theregistrysf.com/oracle-lists-for-sale-52-8-acre-portion-of-santa-clara-campus/
I would say a little bit of both. I would also add in that it is a means to raise cash as well.
How a company treats its real estate is a good indicator of things to come. They are all in with Austin, but Santa Clara isn't HQ. What is there? What used to be there? Why is it no longer needed?
Answer those questions and you have your answers.
The Place would built over an abandoned insane asylum. I'm pretty pragmatic but I swear that land is cursed.
Oracle is all-in on Austin.
Yeah, build some affordable housing on it, FFS!
Sell it AND something else is coming!
I'd guess it's part of the evolution of the workforce. People like remote work and not many have chosen to head back to the HUBS. So why keep paying for property? Sell it off