Hopeful Yahoo Eyes New HQ

Business Insider, Friday, October 30, 2009 2:45 PM
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This makes The New York Times' decision to build a 50-story skyscraper in Midtown Manhattan looks prudent. In the next few years, ailing Web portal Yahoo wants to build a massive new campus in Santa Clara, California. At 42.5 acres, the 13 building campus would add 2.9 million square feet to Yahoo's office space -- enough for about 7,000 more employees. Google's Mountain View campus has about 3 million square feet of office space. At a city council meeting this summer, a Yahoo VP said the plan was for Yahoo to occupy the new buildings in Santa Clara for at least 50 to 70 years. Yahoo paid $112 million for the property in 2006 despite the fact that vacancy rates are the highest they've been in the Valley since 2003 at about 20.5%.
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