AOL Sells Buildings, Land To CB Richard Ellis Realty Trust For $144.5 Million In Cash

AOL, our new owner, this morning announced that it has entered into an agreement for the sale of four office buildings it says it no longer utilizes, in addition to two undeveloped parcels of land on the East side of its Dulles campus. The buyer is CB Richard Ellis Realty Trust, who's taking over AOL's corporate park for $144.5 million in cash. AOL says this means it has approximately $750 million of cash on hand as of October 29.

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AOL Sold Pacific Corporate Park to CB Richard Ellis Realty Trust for $144.5 Million

AOL said that it has entered into an agreement for the sale of four office buildings it no longer utilizes and two undeveloped parcels of land on the East side of its Dulles campus to CB Richard Ellis Realty Trust for $144.5 million. As of Oct '29, pro forma for the sale AOL has approximately $750 million of cash on hand.