CRANBURY, N.J.—Volkswagen of America Inc. has signed a 928,000 sq. ft. long-term lease for warehouse distribution space now under construction at Cabot Distribution Center off of Exit 8A. Volkswagen will occupy the entire facility, which will serve as a new parts distribution center and depot for parts arriving from Europe.

Volkswagen expects to take occupancy in the third quarter of 2002. The new property is being developed by Cabot Industrial Properties LP, a wholly owned subsidiary of Cabot Industrial Trust, a REIT with $1.8 billion in market capitalization that owns and manages more than 50 million sq. ft. of industrial space in 19 markets across the country.

The facility will be situated on 71 acres at the northeast corner of Station Road and Route 130 in Cranbury Township, located in Middlesex County. The facility, designed by KSS Architects in Princeton, N.J., will include 32-foot clear ceilings, four major entrances, trailer parking for 100 trucks, truck courts, cross docking, air conditioning and approximately 50,000 sq. ft. of office space.