Novell Sells Its Home

Dr. Roy Schestowitz

2012-03-05 12:11:56 UTC
Modified: 2012-03-05 12:11:56 UTC

Summary: The Novell Tower is up for sale

The following new video of the Provo HQ was uploaded some days ago to YouTube::

It was days later that we began seeing articles like this one:

The Salt Lake City Office of CBRE Group, Inc. (CBRE) announced that it has been selected by Novell, Inc., a global enterprise software leader and wholly owned subsidiary of the Attachmate Group, to arrange the sale/leaseback of Novell Tower and the sale of six office buildings in the adjacent East Bay Business Park. The campus includes a total of nearly 900,000 SF of office space.

Here is more from the local press:

Novell Inc. announced Monday it has selected CBRE Group Inc. in Salt Lake City to arrange the sale/lease back of the Novell Tower and the sale of six office buildings in the adjacent East Bay Business Park in Provo. Novell will continue to manage the day-to-day operations of the property without change after the sale.

According to a CBRE news release, the sale will include a total of nearly 900,000 square feet of office space. While Novell will lease back the Tower and cafeteria portions of the property, the other six buildings, currently occupied by a number of companies or vacant, will be sold and not leased back.

More here:

The Salt Lake City office of CBRE Group Inc. has been selected to handle the sale of six office buildings owned by Novell Inc. in Provo’s East Bay Business Park.

CBRE also will try to arrange the sale and lease back of the adjacent Novell Tower, an eight-story, 397,346-square-foot structure that will continue to house Novell’s operations in Utah.

"Provo is the center of technology and technological innovation in Utah, and Novell has been a big part of the city’s evolution and rich history," said Bob Flynn, president of Novell.

We may come back to this subject later. The important thing is, for the time being, Novell is being liquidated and dismantled under Attachmate's leadership. ⬆

Comments

jmmarton

2012-03-10 13:29:04

Novell isn't being liquidated. They're simply getting out of the property management business. Sell the property to a firm that specializes in this, then lease it back. Novell definitely isn't going anywhere--the Provo campus will remain the HQ for the foreseeable future.

Dr. Roy Schestowitz

2012-03-14 01:16:36

Not Boston? Not the Washington-based Attachmate? Provo will become less relevant. First it was Boston, now Washington (also with Microsoft calling some shots and grabbing patents).

jmmarton

2012-03-14 12:52:25

Yes for many years the HQ for Novell was Waltham, MA, and it was a very bad move when the HQ was moved from Provo to Boston. It was mainly made because of a few C-level execs who didn't want to travel to Utah. But no matter what the official HQ was, the heart and soul has always been in Provo. That's why it was such a hugely positive statement to hear that The Attachmate Group was moving Novell's HQ back to Provo.

http://www.novell.com/news/press/2011/5/novell-announces-new-executive-leadership-team-and-return-to-utah-headquarters.html

And again the sale of the buildings there doesn't mean Novell is going anywhere. They're just getting out of the real estate business.

Also, the other business units within TAG (Attachmate, NetIQ, and SUSE) may have their HQs in other cities but the main point is that Novell is back home where everything started.

Novell Sells Its Home

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