Nanotech developer Applied Materials Inc. has put more than a third of its 1.6 million-square-foot Northeast Austin campus on the market, freeing up what is likely the city's largest connected office space.
Oxford Commercial Partner Jeff Coddington said even with the real estate market in recovery, the enormous 600,000-square-foot facility that went up for sale or lease Thursday has prospects. Oxford, a Cushman & Wakefield Alliance member, was chosen to market the space for Applied Materials, which owns the six-building campus.
"We do expect there to be interest principally in three industry groups: high-tech and data center, education uses and large corporate space," he said.
With ample classroom and teaching space, he said the buildings are particularly well-position for school, education or training purposes. The 277-acre center is located at 9700 U.S. 290 East.
"The classroom and training space on this campus is in terrific condition and could lend itself immediately to an educational institution," Coddington said.
The two available buildings include about 49,000 square feet of manufacturing space, 184,000 square feet of office space, an 11,800-square-foot cafeteria and about 92,000 square foot of mechanical mezzanine capacity.
The announcement comes a day after Applied Materials (Nasdaq:AMAT) released earnings showing finances are getting back on track after a difficult 2009. Last year, the company eliminated 69 jobs in Austin and 1,500 company-wide. Also, in February 2009, officials announced plans to suspend Austin manufacturing operations for four weeks.
The Santa Clara, Calif.-based company, founded in 1967, employs about 1,500 in Austin, down from 2,700 in 2007.
Applied reported a $264 million profit on $2.3 billion revenue in the most recent quarter ended May 2, up from a $255 million loss on $1.02 billion in revenue during the same period last year.