CORFAC News

CORFAC International Brokers Collaborate to Bring First Chinese Solar Plant to U.S.Goodyear, AZ (February 1, 2010) -- CORFAC International today announced that Suntech Arizona LLC and its parent company Suntech Power Holdings Co. has selected a site for its first U.S. solar plant.In a transaction negotiated by Commercial Property Inc./CORFAC International’sAndrew Jaffe, SIOR (Tempe, AZ) and TRI Commercial/CORFAC International’sAnton Qiu (San Francisco), Suntech selected Goodyear as the location for its new 118,000-square-foot headquarters and manufacturing plant located at 3801 South Cotton Lane, a property owned by Duke Realty. Suntech made the announcement last week, along with Arizona Governor Jan Brewer at the AZSolar Symposium show In Phoenix.Suntech, headquartered in San Francisco, announced late last year it was seeking a warehouse-type facility to produce solar panels in the Phoenix area. The intense site selection process included scouring several cities in Texas before Goodyear was chosen for Suntech’s new location. The solar company toured 30 potential plant facilities before choosing Goodyear. Suntech said it selected the Phoenix area because of Arizona's leadership in solar research through Arizona State University and statewide renewable energy policies.Suntech Arizona plans to occupy the facility about July 1, 2010 after a multi-million tenant improvement project to adapt the building for its manufacturing purposes.“This was a complex deal with many moving pieces and having Suntech select Goodyear is obviously a boon to the entire region,” said Mr. Jaffe. “All parties involved in the negotiations, including the Greater Phoenix Economic Council and officials at the highest levels of state and local government, worked tirelessly to ensure the successful completion of this transaction.”The plant will initially produce 30-megawatt panels beginning in the third quarter of 2010. Suntech’s plant will be the first Chinese-owned solar manufacturing facility in the U.S. The Suntech plant will initially employ 75 full-time employees and may double its staff within the year as the demand for solar power in North America increases.In 2007 Suntech announced San Francisco as the site of its new North American headquarters. In that transaction Qiu and TRI associate C.Jean Ko represented the company in the sublease of approximately 2,500 square feet at 188 Embarcadero Street. In early 2009, Qiu and Ko represented Suntech in a relocation to approximately 14,500 square feet at 71 Stevenson in San Francisco. Suntech originally started in San Francisco with five employees and now has nearly 70 employees. Suntech Power Holdings Co., Ltd. is a world leader in solar energy solutions, as measured by production output and capacity of solar cells and modules. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech employs approximately 5,000 worldwide and maintains four factories in China. The New York Stock Exchange listed the stock in 2005; it now has a market cap of $6.45 billion. About CORFAC InternationalCORFAC International is one of the largest commercial real estate services organizations in the world and celebrated its 20^th year in 2009. U.S.-based CORFAC is comprised of privately held entrepreneurial firms serving more than 150 markets in The Americas and internationally through alliances with UK-based King Sturge, BDI in Mexico, Rios CommercialCorp. in Puerto Rico and Panama-based Latin American Corporate Property Services. In recent years, CORFAC firms completed over 9,000 commercial real estate transactions annually, encompassing more than 300 million square feet and valued each year in excess of $30 billion. For more information on CORFAC contact 954-923-6160, info@corfac.com or visit: www.corfac.com.About CPI/CORFAC International: Commercial Properties, Inc./CORFAC International (CPI) is one of the Valley’s most trusted and respected commercial real estate firms. As CPI’s client base has grown so has its dedication to providing the very best in customer satisfaction. CPI’s mission is to help transform our clients’ business dreams into reality through teamwork, personal relationships, responsive service and unparalleled knowledge of the Phoenix Metro area commercial real estate market. For more information visit: www.cpiaz.com.About TRI Commercial/CORFAC INTERNATIONAL:In 1977, TRI Commercial established itself as a full service real estate firm with an innovative spirit and uncompromising dedication to serving client’s needs. Today, the company has offices in San Francisco, Oakland, Roseville, Rocklin and Walnut Creek with direct access to every major commercial market throughout Northern California. As a member of CORFAC International, TRI offers national and international coverage as well.