Developer buys former AMD campus in Southeast Austin

May 27, 2014
Austin American Statesman

The former Advanced Micro Devices campus in Southeast Austin has been purchased by a local firm that said it plans to spend more than $1 million on improvements to the property in hopes of landing a new corporate user

Riverside Resources, an Austin-based real estate development, investment and management firm, recently purchased the 46-acre site — which includes a two-story office building — for an undisclosed price. The property, which has access from both Ben White Boulevard and Oltorf Street, has been renamed 5900 Corporate Campus

Riverside Resources purchased the property from AMD, which vacated it last year. The property’s assessed value is $12.1 million, according to Travis Central Appraisal District records

The existing office building on the site has 219,425 square feet of office space and amenities including a cafeteria, fitness room and basketball courts. The site previously housed functions including AMD’s corporate data center and computer-chip testing lab, along with executive offices and board rooms

The improvements, which are expected to be finished by early August, will include a renovated lobby, new landscaping and updated signage. The refreshed lobby will have stone tiles imported from Italy and a more open, airy feel. The building entry also will be updated, and new finishes will be added to give the property a more modern look

The building is equipped to accommodate a tenant with high-energy demands, the developers say

Win Smith, a member of Riverside Resources’ development team, said the firm is open to an outright sale, or a lease-to-purchase option, if a potential user wants to own the building. If not, Riverside Resources will continue to own the building and market it to a tenant or tenants

“We are in discussions with a number of groups,” Smith said. “The flexibility of the site makes the campus an ideal fit for a wide range of potential users.”

Smith said the building’s infrastructure and the site’s location in an area with high growth potential made the campus an attractive investment

The East Riverside Drive/East Oltorf area is undergoing a transformation with new mixed-use residential developments, restaurants and offices. Austin Energy has announced plans to build their new command center valued at more than $60 million near the former AMD campus. And next to the campus, Spansion intends to invest $200 million in its facility

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