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Developer Buys Pair of Gutted Wafer Plants

SALEM, OR-The two campuses total 55 acres and are home to eight buildings totaling 600,000 sf that will be retrofitted for office and distribution uses.

By Brian K. Miller | Updated on July 31, 2006

(To read more on the industrial market, click here.)

SALEM, OR-Sumitomo Mitsubishi Silicon Group has sold its two dormant campuses here, nearly two-and-a-half years after putting them up for sale. The one-time wafer manufacturing campuses total 55 acres and are home to eight buildings totaling 600,000 sf. They sold for $13.32 million or $22 per sf. The steep discount is due to the time the properties spent on the market and the additional investment that most of the high-tech manufacturing buildings will require to prepare them for distribution and office uses.

The new owner is Cascadia Canyon LLC, two of the principals of which are Bob Hill, an executive with Pence/Kelly Construction, and Alex Rhoten. Rhoten tells GlobeSt.com that he plans to retrofit the buildings for local and regional tenants. “We’re trying to utilize as much of the existing structures as possible,” he says. “The cost to us to demolish and retrofit will be substantial.”

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