Intel Corporation plans to sell its Folsom campus and lease back a portion of the space under new ownership. Part of a broader cost-cutting strategy, the decision follows significant layoffs and industry challenges over the past two years, reported the Folsom Times.
The 150-acre campus, located at Prairie City Road and Highway 50, has been a hub of Intel’s operations since 1984. Once home to approximately 10,000 employees, the site now houses fewer than 5,000 workers across its 1.6 million square feet of office space, laboratories and testing centers. The company also plans to consolidate space at its Santa Clara headquarters.
The Folsom sale-leaseback could potentially put hundreds of thousands of square feet of office space in play, reported the Sacramento Business Journal. “I would say this is as much of an opportunity for Folsom and the region as much as it is a negative,” Todd Eschelman, executive managing director with Newmark in Sacramento, told the Business Journal.
