The Japanese company is moving to Texas.
Toyota’s new headquarters campus in Plano, Texas, north of Dallas, is nearly complete with official dedication planned for July this year. This means the former HQ of the Japanese manufacturer, located in Torrance, California, is now empty and up for sale, the company’s officials confirmed to Los Angeles Times. The estimated price could surpass $150 million.
The campus features about two million square-feet of office and industrial space, and accommodated nearly 3,000 employees. Toyota hopes the facility will be bought by a single owner-occupant, but The Detroit Bureau predicts it might be bought by a developer interested in giving it a complete makeover.
Toyota revealed it is working on a new headquarters back in 2014, but held up selling its former facility until now. The reason – the automaker wanted to guarantee privacy for its workers and keep its projects in secret, until the new home is done.
Currently, buildings on the new HQ campus are almost fully complete with some 75 percent of the 3,000 employees from California office expected to move to Texas. Some of the veterans in the team, who decided not to follow Toyota to Texas, will be replaced by new talents, who will join their new colleagues in the new office soon. Another 1,000 employees will come from Toyota offices in Kentucky and New York.
In 2017, Toyota will have the tough task to win back its number one position in the automotive business. Last year, the Japanese manufacturer managed to sell 10.2 million vehicles worldwide, while its main rival, Volkswagen Group, delivered 10.3 million cars, trucks, and buses, 3.8 percent more than the previous year. Toyota’s U.S. sales in 2016 dropped, but this is expected to change this year, mainly thanks of the all-new Camry.
Note: Toyota's new Texas HQ pictured.
Source: The Detroit Bureau