Background

• Idle since 1998, in June 1999 Hitachi Semiconductor America, Inc. selects Binswanger to market a state-of-the-art 625,000 sq. ft. semiconductor wafer fabrication facility
• Asking price of $85M based on BPO of $69M
• Seller stipulation to transfer of property prior to Spring 2000 Tax Event

        Results

• Sold to manufacturer of integrated circuits and a supplier of computer chips for the wireless telecommunications industry
• Binswanger secured semiconductor user to purchase property after just six months. Therefore, exceeding client expectation, avoiding the tax event and completing due diligence/closing in under 60 days.