SCOTTS VALLEY, CA-The former headquarters of Borland International Inc. has sold at auction for around $12 million, a price that is just a fraction of what it cost to build.
The Silicon Valley Business Journal reports that an unidentified buyer acquired Enterprise Technology Center last week from LNR Property LLC, a Miami-based special servicer. The property, located at 100 Enterprise Way off Highway 17, was offered through auction.com, in which LNR also holds a stake.
Sprawling across 24 acres, the campus includes 370,000 square feet of rentable office space spread among seven, three-story buildings, according to its listing on auction.com. It features floor plates of 23,000 square feet.
It is also distinguished by amenities that include an Olympic-sized swimming pool, tennis and basketball courts, indoor and outdoor amphitheater and ornate water features. A high-end health-club chain, currently operates a fitness center there.
The rumored price of $12.15 million, would work out to about $33 per rentable square foot. This week's auction had a starting bid of $5 million, according to the property's listing on auction.com.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
