Volkswagen Expands CA Campus With New Lease
- Jul 19, 2018
BLT Enterprises has fully leased an industrial and office facility to Volkswagen Group of America Inc. in Oxnard, Calif. The asset was leased to the company on a 7-year term.
Located at 3301 Sturgis Road, the property comprises 89,811 square feet and is adjacent to the company’s Test Center California, which BLT developed as a built-to-suit for Volkswagen in 2010.
The two companies aim to completely renovate the existing buildings to customize the space for Volkswagen’s exact needs. Renovations will include interior partitions, new amenities featuring an EV charging station and car wash system, parking lot and landscaping updates, new rooftop HVAC units, new roll-up doors and paint, a new roof and the removal of the fence between the two properties to created one larger campus.
“Volkswagen is one of our long-term tenants, with an existing 20-year lease in place for its state-of-the-art Test Center,” said Bernard Huberman, founder & president of BLT Enterprises, in a prepared statement. “Our ability to support this expansion speaks to our company’s positioning as a life-long landlord. With this new lease, Volkswagen will be able to expand its operations, by moving part of its Vehicle Testing team to the property, while also relocating a variety of other departments to the facility.”
JLL International Director of Brokerage Greg Lubar represented Volkswagen in the lease transaction.
In April, BLT Enterprises acquired a $38.3 million industrial facility in Carlsbad, Calif. The property is fully occupied by a golf equipment and apparel manufacturer, which recently renewed its full-building lease for 10 years.
Rendering courtesy of BLT Enterprises