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Yahoo! Buys Land for Future Development

SANTA CLARA, CA-The Internet company buys 42.5 acres here assembled by San Francisco-based TMG Partners.

By Brian K. Miller | Updated on July 09, 2006

SANTA CLARA, CA-Yahoo! Inc. is acquiring 46 acres here that if maxed out could hold some 2 million sf of built space. The company closed on 42.5 acres late last week and expects to close on the remainder in the next few weeks. The purchase price was not immediately available.

“We are planning for future growth and will analyze several different scenarios over the coming year regarding the development of the property,” says Yahoo! CFO Sue Decker in a prepared statement released late Friday. An environmental review will be part of the process, she says.

The property is located between Old Ironsides Drive and Patrick Henry Drive off of Tasman Boulevard, next to a light rail station. The multi-parcel site was assembled over the past five years by San Francisco-based TMG Partners, which likely will oversee development of the land for Yahoo as well. Neither Decker nor Covarrubias could be reached Friday evening for additional comment.

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