CA Nearing $195 Million Sale Leaseback of Long Island HQ

Software giant CA Inc. is poised to sell its sprawling 778,000-square-foot Islandia headquarters to Boston-based investment group CRIC Capital, said a source familiar with the deal.

A Jones Lang LaSalle Americas Inc. broker representing CA on the deal declined to comment. CRIC did not return multiple calls and e-mail messages seeking comment.

It is unclear if this deal includes the entire 60-acre campus. The price is also not known, but in its March offering memorandum, CA, formerly known as Computer Associates, set the price at $195 million. At $250 per square foot, that is one of the highest asking prices for a Long Island office building.

CA has been dogged by rumors that it wants to leave the Island – fueled, in part, by CA leasing 67,000 square feet in Manhattan last year – but has said it remains committed to staying on Long Island. The company boasts 150 offices in more than 45 countries.

In the offering memorandum, CA said it aims to lease the site back for 15 years with a decade renewal option, followed by two-five year options.

In 1990, the Islandia Board of Trustees approved a total of 1.48 million square feet to be built in three phases, but only a little more than half was built. Among the projects set aside was a four-story office building and a cafeteria/training center. Sphere: Related Content