The 63,500 square-foot facility will be used by various brands within the Volkswagen Group which includes VW, Audi, Lamborghini, Bentley and Bugatti. Volkswagen Group of America also will incorporate into what will be one of the automobile industry’s most advanced emissions testing and powertrain development facilities, a customer service support center for Bugatti dealers and customers in North & South America. Bugatti is the world's fastest, most expensive and most exclusive factory-built automobile.
“Volkswagen Group of America’s decision to relocate to Oxnard will provide tremendous economic benefit to the community,” says Solomon. “In addition to the hundreds of construction jobs, the new facility is expected to generate 2,500 hotel room nights per year as engineers from around the world will visit and work at the center.”
The new facility, which replaces Volkswagen Group of America’s existing facility in Westlake Village, CA, will be located on a 4.5 acre site at 201 Del Norte Boulevard, in Oxnard, California. Under the terms of the build-to-suit, Volkswagen Group of America signed a long-term lease with expansion rights, according to Solomon. CB Richard Ellis represented both Quattro and Volkswagen Group of America in the transaction. Construction is expected to be completed in the second quarter of 2012.
The Volkswagen Group of America facility also will be one of the most sustainable buildings of its kind in the automotive industry. BLT will follow construction guidelines specified by the U.S. Green Building and will seek LEED certification. Among the environmental and energy-saving features include light-pollution controls, and energy efficient structures and heating/cooling systems. A photovoltaic solar array on the rooftop and in the parking lot may also be incorporated into the facility to offset a portion of the electricity usage.
BLT will use the proceeds from a new type of tax-exempt private activity bond created by the American Recovery and Reinvestment Act to finance construction. Issued by the California Enterprises Development Authority and purchased by Wells Fargo Bank, BLT will be responsible for the repayment of the bonds.
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About BLT Enterprises
Oxnard, CA-based BLT Enterprises is a diversified real estate and waste management company. The firm has developed millions of square feet of property throughout California including distribution centers, warehouses, private aviation terminals and mixed use properties. Its current roster of tenants includes such companies as Fed Ex, United HealthCare, Nestle, Harbor Freight Tools and PODS. One of the leading recycling companies in California, BLT owns and operates waste transfer stations and material recovery facilities throughout the State and works with municipalities to meet and exceed the state mandated requirements to divert waste from landfills.