Assignment
SAFECO Corporation retained Pacific Real Estate Partners’ Investment Team to lead the property disposition of this 812,196 SF Class A office campus.
Objective
SAFECO required flexible on-going occupancy in the campus while needing to achieve the highest price for shareholder value.
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Challenges
Though the campus was adjacent to Microsoft world headquarters, it was imperative to not provide Microsoft with negotiation leverage that might diminish the value. Simultaneously, the Investment Team needed to provide an equitable process that allowed institutional investors a fair competitive environment.
Results
Due to a highly discipline, multi-facet marketing campaign, the Investment Team was able to secure multiple offers from investors as well as corporate users. As a result of the tight bidding process, Microsoft (the buyer) provided greater occupancy flexibility in order to distinguish its bid from the competitive pool of buyers.
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