NXP Semiconductors Leases Office Space in Austin While Selling 155-Acre Headquarters
NXP Semiconductors has leased 225,000 square feet at Champion Office Park in Northwest Austin as it seeks to sell its 155-acre headquarters in Oak Hill. The site, which NXP acquired in 2015, is listed at $43 million. This decision follows a terminated agreement for a $291 million expansion in 2023 and comes amid a reported 2% decline in third-quarter revenue year-over-year.
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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.
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