Bank of America Selling Concord Tech Center

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Bank of America (BAC) is seeking to sell the Concord Technology Center, a 1 million square foot campus that includes a large data center, according to East Bay Business Times (subscription). About 2,500 people work at the four-building campus in Concord, Calif., down from a high of about 3,700. Bank of America is seeking to lease the properties back from the buyer for a minimum of two years.

The list price wasn’t disclosed, but the paper cited sources saying it would likely be in the neighborhood of $200 million, or $200 a square foot. The Concord Technology Center was built in 1985, and has been used by BofA for disaster recovery and software development. The facility played a key role in the bank’s operations during the Loma Prieta (World Series) earthquake in 1989, supporting the bank’s electronic networks while its primary data center in San Francisco switched to generator power.

About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.