Aviza Technology Headquarters Falls Out Of Escrow Again

Aviza Technology’s (AVZA: 0.12 0.00%) Scotts Valley Headquarters has fallen out of escrow again. This time, the 43 acre property located at 440 Kings Village Road in Scotts Valley fell through supposedly because the buyer, Fowler Property Acquisitions out of San Francisco, exercised its inspections contingency to back out.

The project, consisting of 213,000 SF of improvements on 43 acres was initially in escrow with KB Homes for $22-26M back in 2006. That deal fell out and Fowler stepped into the picture in March at $13M.

This is likely a big blow to Aviza who only had $15M in the bank, and cash flow of -3.6M in the TTM.

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