Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Elmo Gregory who wrote (17186)	9/12/1997 2:07:00 PM
From: E_K_S	of 42771

Hi Elmo - I believe Novell paid 19 million for the land in 1991.... I do not think this statement is correct: "...Novell bought 48 acres in 1991 for about $45 million said Allan Melkesian, the agency's director of industrial development..." From an earlier article (My post 1001 dated June 8, 1996...remember way back then Joe UG....) techstocks.com At the time I checked the property records for Santa Clara County and it showed that Novell paid around $19 million for the parcel in 1991. The current value is about $1 million per acre or about $44 million. As you recall, Novell decided not to build downtown (and utilize the city subsidies) but rather build their campus facility on the Browkaw site. It still seems like the cost per square foot is quite large. I suspect that Novell is still calculating this number as they receive bids on the new construction. EKS

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