Construction & Development Success Stories
Brea Business Park
Voit Brea Business Park becomes largest individual speculative development in North Orange County.
Challenge:
Gain control of an obsolete oil and gas distribution site, mitigate existing environmental soils problems, obtain entitlement rights, and develop and sell a large business park to meet the pent-up demand in the area for new, quality industrial space.
Solution:
Voit identified the availability of the site and knew of the demand for product in the market. Working with the Voit team, the property was acquired, the process was expedited and we overcame potential entitlement and construction challenges that could have delayed the development.
Result:
Voit built two roads around the site to increase accessibility, developed 18 state-of-the-art industrial buildings totaling 533,750 square feet and sold out the project within 28 months of the initial groundbreaking. The project met a market need, attracted new jobs to the area and generated profitability above the original pro-forma for Voit's investors.
FreshPoint Headquarters
Working with public company and public agencies to revitalize asset and area.
Challenge:
The Industry Urban Redevelopment Agency of The City Of Industry desired a partner that could take an obsolete factory, overcome environmental issues associated with the previous use, and in its place create a quality development that would work for a build-to-suit for a major national company, while also developing facilities to attract new business to the area.
Solution:
Voit Real Estate Services teamed with the Industry Urban Redevelopment Agency to entice FreshPoint of Southern California, a wholly owned subsidiary of SYSCO Corporation (NYSE: SYY), and to win the City's approval for the project.
Result:
Voit was able to strategically reconfigure and expand the existing 111,000 square foot building into a 177,143 square foot office and distribution center, adding a second floor for corporate offices. Further, Voit acquired an adjacent 3-plus-acre-parcel on which it developed and sold two speculative buildings of 28,000 square feet each. The project increased jobs in the area and elevated property values within the community.
Semtech
Voit develops state-of-the-art facility to attract new employees for Semtech corporate.
Challenge:
Develop a state-of-the-art headquarters facility located on a corporate campus to help Semtech Corporation attract top-tier employees. Voit would need to develop a 86,706 square foot built-to-suit R&D building located at Semtech Corporation's new corporate campus in Camarillo. This building needed to encompass generous employee amenities creating an attractive work environment that would draw leading engineers to the company.
Solution:
Enter into a competitive bidding process to obtain business with Semtech, using Voit's strong knowledge and experience in developing business environments that enrich the quality of work–life for employees while enhancing corporate identity.
Result:
Voit successfully developed Semtech Corporation's new R&D corporate headquarters building on time and on budget. Voit built a state-of-the-art facility which enhanced work-life at Semtech and the company's corporate image. In addition to corporate space, labs and clean rooms, Voit created a gym with an indoor basketball court. Along with building this 86,706 square foot building, Voit was able to position the new facility to allow for the development of two additional buildings on the same site, greatly increasing the value of the client's asset.
Superstition Springs
Created more than 370,000 square feet and attracted two Fortune 100 companies in an emerging market.
Challenge:
Enter a new market, determine upcoming needs for users, develop and modify property to meet those needs.
Solution:
Voit attracted AT&T by expanding an existing industrial building to meet the 125,000 square foot requirement. Voit then attracted Ford Motor Company by placing some of its workers in an existing 125,000 square foot industrial building and connecting an adjoining building without disrupting the workers in the first building.
Result:
Voit successfully addressed the needs of two Fortune 100 companies by developing modify-to-suit buildings and then created a quality standard for the new market with a speculative Class-A office building that became the area's business district of choice for financial services companies. Finally, Voit created two additional properties it leased to major users including Walmart.
The Plant
Revitalizing an empty, obsolete automotive plant into a vital business park and retail center.
Challenge:
Work hand-in-hand with the City of Los Angeles to redevelop an obsolete automotive plant in a crime-ridden area. Develop a project for the site which will be economically viable, create jobs and create a safe area for community use.
Solution:
Voit master-planned the 70-acre parcel, demolishing the former automotive plant, and building a business park combining speculative development with build-to-suit opportunities for multiple firms, as well as partnering with a retail developer to create a retail and entertainment center.
Result:
Voit joint-ventured with Selleck Development Group to develop a 400,000 square foot retail and entertainment center, and simultaneously Voit developed and sold 800,000 square feet of state-of-the-art industrial space in two phases. The project created 3,000 jobs for local residents and provided a much needed catalyst for projects in the surrounding area, while creating a strong return for investors in the project.
Tustin Gateway Business Park
Acquired a 1 million square foot manufacturing facility and redeveloped it for a higher and better value.
Challenge:
Find value in the existing 1 million square foot manufacturing facility and redevelop an environmentally contaminated site. Upon acquiring this building, Voit needed to employ a creative redevelopment approach to deliver cost-effective, desirable product to market, while producing high yields for its investors.
Solution:
Voit demolished half of the million square foot building and redeveloped the remaining 500,000 square feet, which it sold to a single user. Voit then created a 19-building, 267,000 square foot business park on the remaining land with half of the property for larger users up to 38,000 square feet, and half for smaller users as low as 4,000 square feet.
Result:
Voit sold out the entire business park within just 14 months of its groundbreaking, delivering a rapid and above pro-forma return to its investors.
Warner Center
Warner Center Plaza was developed with offices, hotels, fitness center and restaurants.
Challenge:
Acquire land in an undeveloped area of Los Angelesf San Fernando Valley to create a large-scale business environment. Though this was considered a risky proposition in an unproven market, Voit saw potential in this undeveloped land.
Solution:
Voit created the much admired 2.9 million square foot Warner Center Plaza and Warner Center Business Park, which included mid- and high-rise office, hotel, fitness center, day care, restaurants, service retail and plazas, creating a new business region.
Result:
Voit developed an entire business environment that employers and employees alike value including high-quality building finishes, and the availability of everything from a groundbreaking commuter transportation solution, to a dry cleaner, a morning paper or a high-end client lunch, without having to leave the premises.
