Los Arcos, Mexico City
Property Sq Ft: 25,000
Purchase Price: $5.8MM
Year Built: 1996
Client: Banque Nationale de Parls
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In 1994, Tenantwise was retained by Dresdner Bank to locate and acquire a Mexican headquarters facility for its investment banking and sales and trading efforts. Working out of Mexico City for six weeks, Tenantwise conducted a full market review, prepared market analysis, and analyzed available spaces. The Los Arcos property was identified as the optimal address in Mexico City and negotiations commenced on three condominium units controlled by the developer. Tenantwise was ultimately able to source other sellers and run a competitive bidding process against owners of other prepared units and investors/owners. This backdoor negotiation tactic led to a successful bidding war for Dresdner which acquired three condominium units on the 3rd floor totaling 2,400 M2 (25,000 square feet) in December 1994 for $5.8MM.