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PALO ALTO, CA-Sun Microsystems Inc. has confirmed the lack of interest among institutional investors for Silicon Valley property with the $35-million sale of its former headquarters in Palo Alto to a Jewish community group. Sun sold a 256,000-sf, five-story office building and 12 acres of land to a partnership of Jewish Community Federation and Jewish Community Center to purchase the property. The partnership plans to use the 12-acre site to create a central campus, which will be home to several institutional buildings.

Sun says that it decided to sell the campus as part of a master plan to consolidate facilities and cut costs. The company will relocate many of the 1,000 workers from its old headquarters to its new 82-acre corporate headquarters in Santa Clara, located at the former Agnews Developmental Center, which opened in 2000. Others will work from home or participate in a program that allows them to share offices. This will allow the company to make better use of the buildings it owns and allow it to cut back current leases.

Gary Willard of BT Commercial represented Sun on the sale. The Jewish partnership was represented in-house. The JCC has leased its current facility, the site of the former Terman Middle School, from the city since the 1980s, but must vacate the facility to make way for a new middle school.

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