Yahoo has held onto a 48.6-acre development site in Santa Clara for years despite the company's stalled growth, but now it is reportedly up for sale, according to the Silicon Valley Business Journal. The site is near Levi's Stadium and has been part of Yahoo's real estate portfolio since 2006 when the company's revenues were still growing. Yahoo received approvals in 2010 to build enough office space for 12,000 employees, but construction never began.
The lot is currently being used by the San Francisco 49ers as a parking lot. Its exact value is tough to determine, according to the Business Journal, because its size and shovel-readiness is unique in Silicon Valley at the moment. The approved plans call for 13 buildings, something a new owner may want to change. The sale would give struggling Yahoo's finances a boost.
· Yahoo Putting Huge Development Site Up for Sale [Silicon Valley Business Journal]