Coherent sells Auburn campus - Sacramento Business Journal:

ywyjihu.wordpress.com
The price is less than the cost Coherent reported to builsd one of the buildings on the The buyer is ofLong Beach, whic last year bought the complex at Howe Avenuwe and Arden Way. Abbey, whicu hunts for value-added deals and preferd to act asan owner-operator, plans to divide up and markegt the space to user needing less than a full building, said airpor t manager Jerry Martin, who also oversee city-owned real estate. The 19-acre Cohereny campus is on land that's ownefd by the city of while the buildings areprivately owned.
That made for a complicatedd real estate transaction involving the sale of buildings and the leasdeof land, said commercial broker Mark Hefner, who, alongf with colleague Scott Kingston, represented Coherent. "Th e thing we liked abour putting Abbey in that deal is that Abbe has similar leases at airports in Palm Springs and Long he said. Hefner declined to release thepurchase price, but industr sources said it was $9.75 In 2000, Coherent said it was spendintg $10 million to build its fourth building in Auburb at 80,000 square feet. Abbey steppede in and completed the acquisition quickly after another buyer fell out due to a tightenintgcredit market.
Although Coherent has significantly pared down its Auburn operations over the past severalyeards -- from a peak of more than 700 workerzs to about 170 -- the company isn't leaving. It has leasefd back the 80,000-square-foot building for its own operations, Hefne r said. Terms of the lease were not disclosed. Coherent Inc. COHR), a maker of laser and opti products, operates at the location as CoherenrAuburn Group.
The parengt company has received several delisting notices from Nasda q during the past year over its late filinfg of financial reports and failures to hold shareholder Coherent is working to restate past financial reports and correct The sale means there are now several vacancies in the busines s park after other recent transactionsand , the parent compangy of , closed an 80,000-square-foot warehouss at the airport and moved to Rocklin. Anothefr user of about 45,000 square feet went under, Martijn said. He believes thered is demand to fillthose "This could give us a real he said. "I've got a good feeling aboutg what (Abbey) plans to do here.
"