Cushman & Wakefield was instructed by Pioneer Technology Portugal to dispose of their industrial unit located at Seixal’s Industrial Park, in Paio Pires, south of Lisbon
The property has a total site area of 28,650 sqm and includes a mixed use building of offices and production space with a total construction area of 11,066 sqm. The building was fully-equipped with modern and functional technology required for the electronics industry and could easily be adapted to other kinds of activities.
Cushman & Wakefield defined and implemented a new and more aggressive marketing strategy.
Due to the poor economic context and because of the relocation to other countries of many manufacturing operations we anticipated difficulties in identifying potential occupiers or investors interested in the property despite the fact that Pioneers’ industrial facility offered outstanding technological infrastructure and was in excellent working conditions.
The Industrial and Land team prepared a disposal strategy that, amongst other actions, included contacting and presenting this real estate solution to the main industrial companies located in Seixal as well as to several manufacturing companies located all over the country.
The property was also publicized in the Portuguese press and presented in other countries through our office network, and through our global website. Our goal was to meet the needs of manufacturing companies that could be requiring properties with excellent conditions and that could easily be occupied and fully used with relatively low infra-structural investments.
The property was sold within the time frame agreed (less than a year). The property was purchased by a Portuguese company operating in the metal works sector that was overwhelmed with the property’s outstanding set of characteristics as well as its excellent operational conditions.
The transaction was completed during the first quarter of 2011, when the Portuguese real estate market was already highly affected by the national sovereign debt crisis.