AMD's gleaming white corporate headquarters in Sunnyvale, California has long served as an iconic representation of the company. If a new report is correct, though, AMD's time at that location may be coming to a close in the next couple years. The Silicon Valley Business Journal suggests California real estate developer Irvine Company is in talks to acquire the campus from its present owner, W.P. Carey, which leases the site to AMD. The Irvine Company plans to convert the site into a residential complex, the paper's sources say. Irvine, W.P. Carey, and AMD all declined to comment.
The report notes that AMD's lease on its headquarters runs until December 2018. The company has two 10-year renewal options available at that point, according to the report, but the paper's sources suggest that the company isn't likely to exercise them. AMD is instead looking for 175,000 to 225,000 square feet of offices—30% to 45% less space than it currently occupies—at a different location in Silicon Valley, claim those sources. The paper says AMD has 559 employees in Sunnyvale.