Volkswagen of America will lease about 70 percent of a 200,000-square-foot Class A industrial building northwest of downtown Rocklin in Placer County, with plans to move in midyear and operate a regional parts distribution facility.
Volkswagen will lease 143,000 square feet of the building at 1100 Tinker Road from San Diego-based Westcore Properties, which said it recently acquired the property for $11.2 million. The lease with VW was negotiated during the escrow process.
The building was constructed in 1998 by Panattoni Development Co.
“With Class A industrial properties 93 percent occupied in this region, this was a good time for us to make an acquisition in this submarket and capitalize on a value-add industrial play,” Hack Adams, senior vice president for Westcore Properties, said in a statement.
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Westcore and its affiliates have acquired and managed more than $4 billion in industrial and office assets in the western U.S., comprised of more than 750 buildings and around 35 million square feet. Westcore has regional offices in Sacramento, San Francisco, Oakland and Denver.
Call The Bee’s Mark Glover, (916) 321-1184.