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Marvell Technology Group Ltd. has purchased nearly 900,000 square feet of offices and manufacturing space in Santa Clara from 3Com Corp. for about $64 million, or nearly $73 a square foot.
The buildings are to be the future headquarters of Marvell subsidiary Marvell Semiconductor Inc., which should move into the properties in the next two years beginning in early 2004.
The deal, which has been much discussed and anticipated in the local real estate marketplace, signifies Marvell's commitment to Silicon Valley and the company's robust growth, says Ed Robitaille, Marvell's real estate and facilities manager.
Marvell occupies and leases 212,300 square feet on the Yahoo campus in Sunnyvale, where it has about 780 employees, Mr. Robitaille says. Its lease there expires in 2005, but the...