Yahoo is apparently thinking about making a run for the border: the Sunnyvale border, that is.
Marketwatch reports that Yahoo is finally preparing plans for a parcel of land it acquired three years ago in Santa Clara, Calif., a few exits south on U.S. 101 of its current headquarters in Sunnyvale. The land has apparently sat vacant ever since Yahoo bought it in 2006 in hopes of expanding, which, of course, didn't exactly work out given Yahoo's financial performance over that time and the economic downturn.
It's not clear whether Yahoo wants to move the executive offices or just expand into that location. But the proposal submitted to Santa Clara officials involves a 13-building complex covering 3 million square feet, which means it's probably not going to be used as a satellite office for obscure divisions of the company.
It seems Yahoo is feeling confident enough about its business prospects to consider taking on a building project. The company released a statement about its plans for Santa Clara.
"Yahoo purchased 42.5 acres of land in Santa Clara in July 2006. We submitted initial plans to the City of Santa Clara to redevelop the property in August 2008 and plans are currently with the City to procure entitlements for developing the land. We are taking the proper steps to secure approval for the development of the land. We continue to evaluate our real estate portfolio on a worldwide basis to ensure it best supports our business."