UQM Buys 130,000-SF Building on 30 Acres

LONGMONT, CO-UQM Technologies said Tuesday it has paid $7.6 million for a 129,304-square-foot manufacturing building here on 30 acres that will become the company’s new headquarters and manufacturing center. The publicly held alternative energy technology developer will relocate its operations to the building from nearby Frederick, CO.

Located at 4120 Specialty Pl. in Longmont, UQM’s new building was built in 2001 and includes about 30,000 square feet built out for office use that will house the company’s engineering, vehicle integration and headquarters staff. The rest of the building will be utilized for the company’s high volume motor and electronic manufacturing operations, and the 15 acres of excess land in the deal will be held for future expansion.

In Frederick, the company houses its combined operations in a 28,000-square-foot building at 7501 Miller Dr. The company says it plans to sell the Frederick property after completing its relocation. It acquired the Longmont property from Holden Properties Colorado II LLC, according to an SEC filing.

“This larger facility is ideally suited for the planned expansion of our high volume manufacturing operations in support of Coda Automotive’s all-electric passenger vehicle program and future growth arising from the expected launch of additional production programs,” UQM chief executive William Rankin says in a prepared statement. “The proximity of the new facility to our existing 28,000-square-foot facility, just one mile north, will allow for a relatively efficient and low-cost relocation of our existing operating groups over the next several months.”

The seller, an entity of Minneapolis-based Holden Marketing Group, paid $7.2 million for the property in 2007. The facility previously housed Flextronics USA Inc.

UQM develops power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets. Approximately half of the purchase price for its new home is expected to be funded from the company’s $45 million stimulus grant from the US Department of Energy.