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ISLANDIA, NY-CA Inc. has entered into an agreement to sell itsIslandia, NY headquarters for $204.3 million in cash and lease backthe offices for 15 years, according to an 8-K documents filedearlier this week. CA, formerly known as Computer Associates, willpay about $1.3 million per month in rent, according to publishedreports.

The deal is with two Delaware LLC companies--Island HeadquartersOperators and Islandia Operators, and will allow the firm to renewthe lease for a total of 35 years, CA says. The property is locatedat One CA Plaza, Islandia. The software firm last week unveiledplans for a 10% reduction in work force, or about 1,700 jobs. Thecompany says it expects the cuts to save $200 million in two years.Also among the restructuring is the first phase of a $2 billionstock buyback, saying it would buy the first $1 billion with cashand bank financing.