Sale and partial leaseback agreed with Clowes Developments (Scotland) Limited
Seattle, Wash., August 17, 2011 – ATREG, Inc. (Advanced Technology Resource Group), a Seattle-based global advisory firm to the semiconductor industry, and Colliers International have facilitated the successful sale and partial leaseback of the Freescale Semiconductor campus at East Kilbride, Scotland, in a deal which sees Edinburgh-based Clowes Developments (Scotland) Limited acquire the 800,000 sq. ft. facility located on 26 acres.
Freescale is leasing back 70,000 sq. ft. of campus offices from Clowes for research and development, applications engineering, systems architecture, and product engineering purposes. This agreement maintains Freescale’s presence at the location, while offering Clowes significant scope to redevelop the rest of the site.
“Our expert advice combined with Freescale’s proactive planning has resulted in ensuring continued employment in the tech sector of that region,” explains Stephen Rothrock, president and managing principal of ATREG. “We are pleased to have achieved such a successful transaction for our client in a down market.”
“This is the largest industrial disposal in the West of Scotland for some years, and despite challenging market conditions, we were successful in identifying a local buyer,” adds Iain Davidson, director, logistics and industrial with Colliers International in Scotland. “The transaction itself was not without its complexities given the scale, nature of the site, and our client’s requirement to lease back part of the site. However, we are delighted to have secured the sale to Clowes Developments.”
The value of the transaction has not been disclosed. Patrick Property Consultancy advised Clowes Developments (Scotland) Limited during the transaction.
In December 2010, ATREG and Colliers International advised Freescale on the sale of its other Scottish semiconductor facility located in Dunfermline to Shepherd Offshore Services Ltd.
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About ATREG, Inc.
Based in Seattle, WA, ATREG is a global advisory firm to the semiconductor industry. The company provides some of the world’s largest and most reputable companies with objective market analysis, strategic advice, and transaction execution expertise for the disposition and acquisition of operational assets. With its extensive market knowledge, key industry relationships, and proven track record, ATREG has advised clients in transactions representing a combined market value of over $3 billion. For more information, please visit us online at www.atreg.com.
About Colliers International
Colliers International is one of the UK’s top real estate advisory organizations, employing around 700 people in 13 full-service offices throughout the UK and Ireland. Colliers International provides a broad range of real estate consultancy services, including general practice surveying, fund management, destination consulting, and property co-investment. Globally, Colliers International is the world’s third-largest commercial real estate firm, employing over 12,500 professionals in 512 offices in 61 countries. For more information, please visit us online at www.colliers.com/markets/UK/.
About Clowes Developments (Scotland) Ltd., part of CWC Group
CWC Group is one of the strongest and largest privately owned property development groups in the UK. For more information, please visit us online at www.clowesgroup.com/.