Thursday, May 15, 2008

Adobe buys Waltham site for about $45M

California-based software maker Adobe Systems Inc. reports that it has reached an agreement to acquire a Waltham property for $44.7 million that it plans to turn into an environmentally friendly site.

Adobe plans to buy the 108,500-square-foot building, called Overlook Center, when it is completed on Hickory Drive in Waltham. The deal is scheduled to close by May 2009 and the building is expected to be occupied later in the year, company officials said.

In Newton, Adobe currently houses about 200 employees who work in research and development, marketing, customer support and sales. Those workers are expected to re-locate to Waltham once the new facility is completed, officials said.

The Overlook Center will include 360 spaces of on-site covered parking, a café, fitness center and a conference facility. Adobe and the developers, Normandy Real Estate Partners, are pursuing LEED (Leadership in Energy and Environmental Design) certification through the U.S. Green Building Council, officials said.

In 2005, Adobe bought Macromedia Inc., another California company that had acquired Cambridge-based Allaire Corp. in 2001.

Adobe, which employs about 7,000 workers wordwide, reported a net income of $723.8 million on revenue of $3.1 billion during 2007.