AMD to sell and lease back campus

AUSTIN (KXAN) - AMD is taking advantage of favorable economic conditions in the Austin Southwest office sub-market to offer the “Lone Star” campus in Austin for sale, it was announced Tuesday.

The company is looking for reputable commercial investors, contingent on a multi-year leaseback and a successful purchase/leaseback offer.

AMD’s management team believes this is a good business decision, supportive of the company’s long-term corporate strategy. They say it will enable AMD to generate capital to apply to its business operations, as opposed to having it locked in real estate.

The multi-year leaseback provision of the proposed transaction will allow AMD to remain a long-term tenant of the Lone Star campus as well as to maintain responsibility for all operations of the AMD campus, officials said in a released statement. This action is expected to have no impact on employees or operations.

"AMD remains a committed neighbor and environmentally responsible stakeholder to Austin and Oak Hill. We will continue to build on the many positive contributions the company has made to the Austin area for almost three decades," the statement read.