After six years of chip production and despite a $250 million expansion on the 92-acre campus with over 710,000 square feet of improvements, Matsushita Semiconductor was forced to close their Puyallup, Washington facility in 1998 when the semiconductor market declined sharply. Their new state-of-the-art 31,235 square foot Class M1 Cleanroom in the new Building D was never put into operation.

Challenge:

The challenge was to fully understand the value of this highly specialized and extremely unique property and to convey the unique features of this property to a select audience.

Services:

Colliers International prepared a comprehensive offering package that addressed all salient issues associated with the property. A prospect list of over 1,600 upper level contacts in over 1,200 companies within the semiconductor, high-tech, and bio-tech, and other related industries was compiled and edited for accuracy. After a year of global marketing, several offers were generated from semiconductor industry prospects.

Results:

The multiple bids resulted in initial offers of $50 million to $80 million. The facility sold to an Arizona-based semiconductor manufacturing company for $80 million, the target sale price set by the seller. The property was marketed, placed under contract and the sale closed all within 30 days of the timeline proposed by the listing team 11 months earlier.

 back to top