Just curious, as I haven’t been to SAS campus in quite a while. Did SAS end up being able to rent out any space in buildings E or H?
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Update: I was on campus on 12/20 and saw that buildings F, E, H, and J are all empty. No cars in their lots and their respective signboards are empty.
Sell one of the buildings to JMP for their employees.
No reason to lease to outsiders when you have a subsidiary that could benefit from being divorced from the Mother Ship. SAS and jump have as much in common as a fish and a bicycle, thus the status quo only muddies the water for a sale/IPO.
Unwinding JMP from SAS should happen sooner or later as JMP is necessary to SAS. Preferably sooner. That gets one building sold to JS. That way, any potential buyer can make a better informed decision whether they also want to buy JMP when they buy SAS. Or just buy one piece instead of both. Sitting SAS and JMP makes the end zone closer! Each seller(JG and JS) have a better stake in their respective destiny. One person can always make a decision quicker when they do not have to haggle or negotiate with another party to reach agreement.
Bottom line, if SAS wants to sell or IPO, they need to take actions to demonstrate that desire. This idea makes the financials of both SAS and JMP easier for a potential buyer to understand and navigate.
SAS will have problems trying to rent their office spaces as is to other companies for offices for their employees because most companies do not want to give mass employees private individual offices with a door (only for high-level managers or executives). Most companies have cubicles or open sitting for the mass. If SAS rents to them they will gut the private offices and turn them into cubicles or open sitting spaces. The conference rooms may be kept as is to have privacy during meetings but most of the rest will be reconfigured. Maybe the break rooms can be kept.
SAS could get some instant revenue from those old empty buildings with minimal expense.
Each office becomes a storage locker. Give SAS employees first priority to rent an office for a climate controlled storage locker. Collect the rent via payroll deduction.
https://www.cushmanwakefield.com/en/united-states/properties/for-lease/office/nc/cary/300-sas-campus-drive/s121399614s121399619-l
Where do you see it advertised? Can you post a link?
"Security deposit on the condominiums is $100,000 per person. This is expected to improve SAS Institute's revenues in front of their IPO.
There's a long waiting list. Get your name in now!"
Do you also write for the Babylon Bee?
All four buildings are planned to be repurposed as the SAS Continuing Care Retirement Center for older employees (SAS/CCRC). Building F will continue to serve as a Cafe, while Buildings E, H, and J will be converted into condominiums.
Security deposit on the condominiums is $100,000 per person. This is expected to improve SAS Institute's revenues in front of their IPO.
There's a long waiting list. Get your name in now!
Not sure but Building J appears to be available for lease still. Almost 100,000 square feet just sitting there empty.
Don't know but I seriously doubt it. They would have to rethink how they handle automobile security. Not that there really is any security since anyone can easily get on the SAS grounds.