Challenge

Vince Roche of the CB Richard Ellis’ Mexico Advisory Services Group, in conjunction with Hajimu Taguchi and Yoshio Fujiwara from CB Richard Ellis’ Japan Desk were engaged to dispose of a property owned by Panasonic Electric Devices Corporation in the city of Tijuana, Baja California, Mexico. Panasonic sought to accomplish this within a very aggressive time frame.

Solution

Panasonic and the CBRE team began immediately to dispose of the property known as the Panasonic Campus located within the largest industrial park of the state of Baja California Mexico.

The CBRE team by an invitation only format selected the top ten aggressive and active buyers act within México, most of which are global institutional funds.  The finalists were selected initially first by offer, and then finally by the reputation and performance history with the Mexico Advisory Service Group, specifically Vince Roche.  The letter of intent was formalized with the joint venture group of AMB and Grupo Acción who together are the largest investment base within Mexico.  In September of 2006 the due diligence period began. With the combined teams of Buyer and also CBRE with the local Panasonic team helping conduct the fast paced closing proceedings.  Targeted to close before March 2007 the sale transaction was completed on the second day of February 2007.  In comparison to another Panasonic property represented and sold by a CBRE competitor, it was sold for approximately 30 % more when represented by CBRE. 

Benefit

By performing the invitee only list of Buyers as recommended by the CBRE team, Panasonic was able to achieve a strong sale price within a short time frame through the qualification and knowledge of Vince Roche of the potential buyers within Mexico.  Also the presence always exist with such fast track negotiations and disposition of property in Mexico, the extensive track record and experience provided Panasonic a proactive team of professionals remaining a step ahead of process resulting in a seamless transaction and client awareness of the importance for future representation by CBRE team for their real estate needs.

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