Orig Source www.bizjournals.com | Re-Post MNM Partners, LLC 6/17/2016
It’s a done deal: Chinese tech company LeEco just acquired Yahoo’s nearly 50-acre development site in Santa Clara, a prelude to an ambitious growth strategy as it ramps up its North American R&D operations.
LeEco paid exactly $250 million for the 48.6-acre site, where it is approved to build up to 3 million square feet of space — enough for 12,000 workers or more — according to a deed that I examined Friday morning at the Santa Clara County clerk’s office.
The property is largely vacant land that is used for parking during Levi’s Stadium events. Yahoo continues to own its roughly 1 million square foot campus in Sunnyvale and an additional development site in that city, neither of which was included in this week’s deal with LeEco.
The land is bounded by Patrick Henry Drive, Old Glory Lane, Old Ironsides Drive and Tasman Drive.