Irvine chipmaker Microsemi Corp. on Wednesday said it sold off its original plant in Santa Ana.
The Santa Ana site, which has about 96,000 square feet of office and manufacturing space, was sold for $10.5 million cash.
Microsemi didn’t disclose the buyer.
The company had closed the Santa Ana plant back in 2005 and combined its operations with other facilities in Garden Grove and Scottsdale as part of its efforts to cut down costs.
Microsemi acquired the Garden Grove site from its $24 million acquisition of LinFinity Microelectronics Inc. in 1999. It spent millions to upgrade and expand the plant.
In a separate transaction, Microsemi said it sold another plant in Montgomeryville, Penn., for about $900,000 cash. Operations in Montgomeryville were combined with a site in Santa Clara a few years ago.
The property sales are expected to add about $11 million to Microsemi’s cash flow and give a one-time boost of about $4 million to profits at the end of the year, the company said.
Microsemi, which makes chips that power satellites, military aircraft, medical equipment and other things, has closed about eight plants since 2001, according to Business Journal estimates.
The company’s stock was up nearly 3% with a recent market value of about $1.8 billion.
