HP Buildings Sold

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(Sacramento, CA)
Tuesday, August 3, 2004
The buyer of the two hundred seventy six acres and three story office building is Roseville developer John Mourier, for a price believed to be at least one hundred twenty five million dollars. Mourier, who beat out fifteen other bidders for the coveted property, is expected to build mostly homes on it, mixed in with some commercial development. Hewlett Packard, which is selling off unused assets companywide, put the Roseville land up for sale in February. The heavy interest from developers wanting the property was spurred by a severe shortage of land for housing in South Placer. The land can hold a thousand homes and a million square feet of commercial space.For the Business Journal, this is Mark Larson