NEW YORK (Reuters) - The former manufacturing plant and headquarters financed by a controversial government loan to the now bankrupt Solyndra LLC is up for sale and could attract high-tech companies looking for new U.S. location.
The U.S. bankruptcy court in Delaware on Wednesday approved the appointment of real estate services company Jones Lang LaSalle Inc to market the Fremont, California building, which cost more than $300 million and was completed in 2010, according to court documents.
Greg Matter, vice president, Jones Lang LaSalle’s Supply Chain and Logistics Solutions team, declined to say how much the building could fetch.
But another commercial real estate expert said it could go for about $150 million.
Solyndra, which manufactured cylindrical solar panels, rose to fame after President Barack Obama visited it in 2010, as part of the administration’s efforts to promote jobs in renewable energy. Solyndra had received a $535 million federal loan guarantee to build a factory in Fremont.
Solyndra’s bankruptcy has been politically embarrassing for the administration as Republican lawmakers jumped on it as an example of failed energy policy and government waste leading up to the 2012 presidential election.
Solyndra’s facilities could benefit a company that needs an utlra-clean environment such as makers of semiconductors or disc drives.
The building, located on 30 acres in the southeast section of the San Francisco Bay Area, comes with 31,000 square-feet, or two floors of office space.
The high-tech manufacturing facility was built to withstand an earthquake. It is serviced with 22 megawatts of power and backed up by two diesel emergency generators, each with 2 megawatt capacity. It also is equipped with Solyndra solar panels on the roof that can generate 1.2 megawatt of power.
The property includes plans that can expand the facility by more than 200,000 square-feet, Jones Lang LaSalle said.
Jones Lang is expected to set up a Website, www.solyndrabuilding.com, to market the property globally.
The bankruptcy case is In re Solyndra LLC, U.S. Bankruptcy Court, District of Delaware, No. 11-12799.
Reporting By Ilaina Jonas, additional reporting by Roberta Rampton; Editing by Bernard Orr