NortonLifeLock (NASDAQ:NLOK) closes the sale of its Culver City, California campus with Northwood Investors for $120M; the sale comes as a part of $1.5B proceeds targeted from underutilized assets.

NortonLifeLock will retain a seven-year lease for two floors in the building.

With $875M realised in cumulative proceeds, the company has eliminated ~95% of the total stranded costs as of June and remains ahead of plan to complete transition by the end of summer, told new CFO Natalie Derse.

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