Tokyo Electron is looking to sell its U.S. headquarters in Southeast Austin and downsize its office real estate footprint in the city.

The company, which produces semiconductor manufacturing equipment, is offering the 107-acre property at 2400 Grove Boulevard in two sections, the Austin Business Journal reported

Tokyo Electron’s two-building, 189,795-square-foot campus is offered up, along with a 60-acre tract that’s primed for development opportunities. Prospective buyers have the option to purchase the entire property as a whole, though. HPI and CBRE have been hired to market the site.

The asking price wasn’t disclosed, but the 47-acre section was last appraised at $45 million for tax purposes, while the undeveloped section was valued at $4 million. 

The company is finalizing negotiations for a smaller office in the city, but it hasn’t disclosed where or how much less space it will occupy. Some of Tokyo Electron’s employees work at Samsung’s facilities in Taylor, another reason the company is reducing its footprint. Samsung, a major customer of Tokyo Electron, is building a $17 billion semiconductor factory in tiny-town Taylor, northeast of Austin. 

“We look at Samsung — a huge customer of ours — building their new Taylor site,” Jason Jowers, Tokyo Electron vice president of support services, told the outlet. “Well, [our employees] who are going to be working there will not need the headquarters space that they are currently taking up.”

Tokyo Electron is the latest company to shed office space in Austin. Meta has subleased nearly 700,000 square feet across two downtown buildings since last November. TikTok, another social media giant, put 126,400 square feet at 300 Colorado up for sublease in April. 

—Quinn Donoghue

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