The complex sits on a 92-acre campus east of Tacoma. The campus consists of 10 buildings including three fabrication facilities. The other buildings are for office and site support. The list price for the facility is $93.8 million.
Microchip Technology acquired the Puyallup facility in 2000 for about $80 million. The facility began heading toward the market in August, when Microchip Technology acquired Fujitsu's ready-to-use 200-acre semiconductor plant in Gresham Ore. for $183.5 million. The Gresham plant had been on the market for only five months.
In both acquisitions, Stephen Rothrock, SVP in the Seattle office of Colliers International, handled one side of the transaction. Rothrock told GlobeSt.com in August that some 300 fab plants have closed since 1990, and 62 of those have closed since 2000.
Most of those plants were gutted, however, which is why Rothrock lobbied hard for Fujitsu to leave the chip-making toolsets in place. To do so, he said, would increase the chances of a quick sale because the buyer could be ready for chip production in months rather than years, and the effected government agencies, seeing the rapid replacement of lost jobs, would have more incentive to facilitate the transaction. It all turned out to be true.
Following Rothrock's successful lead, Binswanger says it, too, will market the Puyallup property to semiconductor and fabrication users worldwide that could benefit from the building's state-of-the-art, fully functional status. The property is located at 1111 39th Avenue S.E. Fab D totals approximately 300,000 sf, with a class 1, ballroom-style cleanroom, capable of 0.18-micron technology. Fab C, capable of class 10 expansion, totals approximately 185,000 sf. Fab A totals approximately 152,000 sf.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
