Sony Explores Sale Of Park Ridge Building

Electronics unit looks to cash out of one-time U.S. headquarters
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Electronics unit looks to cash out of one-time U.S. headquarters

Park Ridge, N.J. — Sony started quietly advertising this week that its operations center at 1 Sony Drive, here, is up for sale.

According to a report in, Sony has hired a realtor that has advertised the 219,049-square-foot, glass-walled building in sales brochures.

The report cited sources saying that Sony would like to sell the building and then lease back part of the space. Sony still employs about 330 workers there.

Sony officially moved its North American electronics division headquarters from Park Ridge to San Diego in 2004, but maintained space at the Park Ridge campus for operations and support of various business sectors. Sony's building in Park Ridge was constructed in 1982 on almost 30 acres, and is assessed at $30 million, according to the report.

Sony issued a statement on Monday saying only that it continues “exploring all options” for maximizing business and optimizing working space.

Right now, Sony is only using part of its office building in Park Ridge, with 60,000 square feet available, according to the property's marketing brochure.

Sony has been reassessing its real estate holdings all over the world, as financial pressures continue to mount.

The Tokyo-based company recently said that it expects to post a loss of $2.1 billion for this current fiscal year.

During the past few years Sony has significantly reduced its workforce globally. said that in 2009, the company had about 900 employees at facilities in Teaneck, N.J., and Park Ridge.

In January 2013, Sony Corp. of America announced the sale of its tower at 550 Madison Avenue in New York for $1.1 billion. Through an up-to-three-year leaseback arrangement with the purchaser, SCA and other Sony businesses (including Sony Music Entertainment, Sony/ATV Music Publishing and Sony Pictures Entertainment, among others) have remained in the building.


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