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NXP Semiconductors signed a lease for 225,000 square feet at Champion Office Park, a two-building campus in Northwest Austin, while exploring the sale of its 155-acre headquarters in Oak Hill. The lease was confirmed by representatives, with the property owned by Menlo Equities and leased by Endeavor Real Estate Group.

NXP's headquarters, on the market for $43 million, was recently appraised and spans 1.5 million square feet. The company previously planned a $291 million investment to expand its campuses, which has now been terminated. NXP reported $3.2 billion in third-quarter revenue, a 2% decrease year-over-year.