Vizzda – June 5, 2013 – The ASM America headquarters building sold yesterday for $19.75m or $151.59 per ft2 with $9.875m down and $9.875m new debt with US Bank. Winnipeg-based Artis REIT acquired the building from a tenant-in-common investor group headed by Robert F Caldwell of Caldwell’s San Francisco Door Company. Kirsty Stevens, chief administrative officer of Artis, closed the deal with Caldwell.
The ASM America headquarters building was developed by the Douglas Allred Company as “Allred 2,” one of five buildings in their Southbank development, and the building which won them the NAIOP “Build to Suit of the Year Award” for 1997. The building is located north of the northwest corner of Universtity and the I-10 at 3420 & 3440 E University Dr. This is a 132,282 ft2 R&D building, broadly classified as industrial / office, with a ±40,000 ft2 second story office mezzanine component. The building has a clean room and is utilized by ASM for high tech semiconductor research. The warehouse component of the building has 30’ clear height and three truckwells. The site includes 426 parking spaces for an overall 3.27:1000 parking ratio.
Robert F Caldwell, et al acquired the building from Douglas Allred Company on October 4, 2001 for $15.45m or $118.59 per ft2 with $100k down and the assumption of $11.36m debt with The Manufacturer’s Life Insurance Company. The Douglas Allred Company had encumbered the property with $11.36m in debt on July 23, 2001 just a few months before the sale was recorded, a debt which the investor group assumed. The building has been 100% leased to ASM America since August 12, 1996.
Director of Research