Disney is dropping more than $115 million on Yamaha’s sprawling Orange County headquarters just as the manufacturer prepares to pull its US operations out of California and relocate to Georgia.
Walt Disney Parks and Resorts US Inc. paid $115.29 million for the 25-acre Cypress campus, with the deal closing Sept. 23, according to public records.
The property at 6555 Katella Ave. sits roughly seven miles from Disneyland Resort’s Simba parking lot.
Disney has no plans to turn the site into another theme-park attraction.
“This acquisition provides space that can help support our long-term operational needs for our continued growth and evolving business needs,” Disney told The Orange County Register.
The company said the campus will house “back-of-house operations,” the non-guest-facing work that can include laundry and costuming.
The $115 million purchase comes as Yamaha makes a major move in the opposite direction. After nearly five decades at the Cypress headquarters, the manufacturer announced in March that it would relocate its US headquarters to Kennesaw, Georgia.
Yamaha has been based at the Cypress campus since 1979 and will lease the property through Dec. 31, 2028, as it carries out the relocation. The company said its move is part of “structural reforms” aimed at improving profitability.
Georgia Gov. Brian Kemp quickly seized on Yamaha’s move, using the announcement to tout his state while taking a pointed shot at California’s business climate.
“After many years of great partnership, we are honored and proud to welcome Yamaha’s American headquarters to the No. 1 state for business,” Kemp said. “This is another loud and clear testament to what we offer job creators from around the world. To any other California-based companies looking for a better home, we’ll give you plenty of reasons to keep Georgia on your mind.”
For Disney, the prize is a huge block of operational real estate close to its Anaheim resort.
The campus contains nearly 279,000 square feet of industrial, flex-warehouse and office space and occupies an entire city block bordered by Katella Avenue, Holder Street and Yamaha Way.
The property also has three access points, while Avison Young represented Yamaha in the sale after marketing the campus as a major industrial redevelopment opportunity.