posted on December 03, 2010 22:10
Intel Corp. (Nasdaq: INTC) has followed through with rumors it was buying the 388,000-square-foot Guaranty Bank headquarters building on Mopac.
A spokeswoman for the California chipmaker confirmed Thursday the contract closing for the space at 1300 S. Mopac. The company purchased the building for $39.8 million from the Federal Deposit Insurance Corp., according to an FDIC spokesman.
FDIC spokesman Greg Hernandez had confirmed in October the building was under contract. Intel operates three offices in Austin with about 900 employees, two of which sit across the highway and will consolidate into the Guaranty building.
The FDIC took control of the property after the bank became insolvent last year. Guaranty operated 103 locations in Texas, 12 in the Austin area. Alabama-based BBVA Compass, the U.S. banking arm of Spanish financial giant Banco Bilbao Vizcaya Argentaria SA , acquired most of Guaranty Bank’s assets, including $11.5 billion in deposits.
12/2/10, Austin Business Journal