County Hails News of Volkswagen Lease in Sunset Industrial Area
March 06, 2015
Placer County officials hailed the news this week that a prominent real estate investment company acquired an industrial building in the Sunset Industrial Area recently and was able to simultaneously lease most of the space to Volkswagen of America.
The buyer was Westcore Properties, a firm headquartered in San Diego that has an office in Sacramento. It specializes in industrial and office properties and now owns 7.65 million square feet of space throughout the Sacramento metro region.
County officials emphasized the simultaneous transactions involving Westcore and Volkswagen are signs of growing demand for space in the SIA, a county-created industrial park that covers approximately 8,100 acres of unincorporated land located west of Highway 65 between the cities of Rocklin, Roseville and Lincoln.
The 200,000-square-foot industrial building is located at 1100 Tinker Road near the city of Rocklin. Westcore acquired the building for $11.2 million and is leasing 70 percent of the space to Volkswagen of America for use as a parts distribution center.
“Placer County is honored to welcome Volkswagen America to the Sunset Industrial Area,” County Economic Development Director David C. Snyder said. “The SIA was established many years ago to provide primary wage-earner jobs for local residents. Volkswagen is exactly the kind of highly respected corporation the founders had in mind when the SIA was originally developed. We thank Westcore Properties for facilitating the lease agreement with Volkswagen.”
Last year, Placer County began updating its long-range plan for the Sunset Industrial Area. The timeline calls for holding public workshops in July and August and having a capital improvement and finance plan ready by next January. The SIA is the largest job-creation center in the county and critical to maintaining a healthy jobs-housing balance in West Placer.