by nearly 8%, the company has listed its Silicon Valley headquarters for sale.
Ireland-based Seagate, one of the world's largest and oldest hard drive makers, wants to sell and lease back the 574,775-square-foot campus at 47488 Kato Road in Fremont for seven years, according to a marketing brochure. Real estate services firm Cushman & Wakefield is representing Seagate . "Seagate is highly committed to our employees, suppliers, and customers in the Bay Area and across our global footprint," a spokesperson said in an email. "As part of our ongoing efforts to optimize our capital assets and opportunities for reinvestment, Seagate is exploring selling the Fremont site with a long-term lease back; the site will continue to be a center of excellence for R&D, innovation, and multiple business functions.
Seagate is seeking $300 million for the two-story campus — which sits on 31 acres, including 11 yet to be developed — according to sources familiar with the listing. Seagate is also said to be looking to sell a more than 400,000-square-foot facility in Longmont, Colorado.was built in 2010 for about $300 million and once served as the
Solyndra solar-array factory. Seagate paid $90.3 million for it in 2013 following Solyndra’s 2011 bankruptcy filing.