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News and Information Article
SEATTLE, May 16 // -- Colliers Internationals Advanced
Technology Real Estate Group (Colliers ATREG) announced that it has
represented LSI Logic Corporation (LSI) in completing the sale of the
companys Gresham, Oregon 200 millimeter semiconductor manufacturing
facility to ON Semiconductor Corp.s primary operating subsidiary,
Semiconductor Components Industries LLC (SCI).
The facility sold for approximately $105 million in cash.
"We greatly appreciated Colliers ATREGs global marketing effort, which
helped LSI reach an agreement with a qualified buyer within the time period
we established," said David Sanders, vice president of Strategic Alliances,
LSI Logic.
The initial sale agreement was announced April 6, 2006. Colliers
ATREGs Stephen Rothrock, senior vice president and Doug Barrett, senior
vice president, represented LSI Logic Corporation in the transaction.
"A key driver to putting the sale together was the buyers ability to
acquire a 500,000 square foot operational facility on 83 acres including
advanced geometry tools and a contract to supply wafers to LSI," said
Rothrock. "There are multiple semiconductor facilities on the market but
the superior fab and experienced LSI workforce along with the supply
contract were distinctive characteristic of this offering.
"The fact that the facility was operational gave the buyer speed to
market and as an added bonus kept several hundred jobs in the local area,"
said Barrett. "Despite a difficult market cycle and complex aspects of the
assignment, we were able to create a competitive environment, with multiple
interested parties, from which a qualified purchaser was selected and a
mutually advantage transaction was negotiated."
About Colliers Internationals Advanced Technology Real Estate Group:
The Advanced Technology Real Estate Group (ATREG) of Colliers
International helps companies value, buy and sell advanced technology
assets. Established in 1997, the group has represented over US$600 million
in transactions and was directly involved in six of the last eight premier
semiconductor fab sales in the market. In addition to operational facility
sales, ATREG has successfully repositioned multiple advanced technology
campuses for alternative uses including mixed use development, datacenter
and lifescience. Colliers International is a global real estate services
firm with over 9,300 employees in 241 offices in 54 countries and revenue
exceeding US$ 1.4 billion in 2005. For more information, please visit
http://www.colliersmn.com/atreg.
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