Agilent sells Böblingen site with Drees & Sommer support

As a result of consulting by Drees & Sommer Development Management, the 130,000 square meter site owned by high-tech company Agilent Technologies in Böblingen has been sold on a sale-&-lease-back basis.

The project for the HP subsidiary involved the seamless application of a range of Drees & Sommer property competencies. In the second half of 2005, the Development Management team led by General Manager Roland Huber carried out a site analysis and recommended that Agilent sell the property on a sale-&-lease-back basis. The expert team then approached potential investors throughout Europe, including open funds, international investment funds, project developers and private investors. The property analysis and valuation experts carried out Due Diligence on the site and the building with a floor area of 65,000 square meters. The establishment of a data repository in the Internet-based Project Communication System PCS allowed prospective investors to access all necessary property and technical information online.

The Development Management team supported Agilent both with the evaluation and selection of bidders and with investor negotiations. At the end of March 2006, the future investor was selected from the short list and contracts were signed with MIB AG - Immobilien und Beteiligungen in early May 2006.

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