Novell sets huge San Jose Project
- San Jose Mercury News Thursday October 3, 1996
North First Street to Get $300 Million Facility, 3000 Jobs.
Novell Inc. on Wednesday announced plans to build a $300 million campus in North San Jose and add nearly 3,000 jobs in Silicon Valley during the next six years.
The Orem, Utah based maker of networking software spent several months determining wheather to build downtown or on 48 acres it owned on North First street. The company chose North First Street largely because construction would take about a year compared with about two years downtown.......
Novell has about 1,100 employees in a leased complex. When completed, the new campus is expected to comprise 1.5 million square feet in nine buildings, each up to five stories. The site would accommodate about 4,000 workers.
The increased employment would come from expansion of local operations, which include the development of products used in network management, the Internet, and corporate Intranets....We definitely think the talent pool is here in the Bay Area.
....Novell hopes to break ground next summer and complete the first phase, about 700,000 square feet, by the end of 1998.
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They planned to move forward with their construction project and chose the 'fast track' route. Look at it this way, if all else fails, they can always rent out this building down the road and make money as a landlord and perhaps the company will become an REIT investment.
Really, this is a good move for Novell. It will allow them to get back on Internet time and get their new applications developed, tested and shipped faster with the programming talent pool available in Silicon Valley.
EKS |
