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April 14, 2004
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BMW of North America, LLC Purchases 45 Acres Of Woodcliff Lake Property For Expansion Of US Headquarters Campus

Woodcliff Lake, NJ - BMW of North America, LLC has purchased property adjacent to its US headquarters in order to accommodate the company's growing workforce. The property, which includes a 130,000 square-foot office building on 45 acres of land, will be used to create an 85-acre headquarters campus to accommodate the company's growth as it continues to expand in the US.

SJP Properties of Parsippany, NJ will serve as Development Consultant for BMW of North America, LLC.


"BMW has enjoyed successes in the US with steady sales increases since 1991 and now BMW is a leading player in the luxury automotive field in the US. We are in the midst of our biggest new product offensive ever, poised for more growth in the years ahead.

Our dealerships across the US invested about $300 million in 2003, following $300 million in the three previous years combined," explained Tom Purves, chairman and CEO of BMW (US) Holding Corp. "We've expanded or added several facilities across the country in recent years and this acquisition is the next step in our growth strategy.

BMW moved into its current corporate headquarters address at 300 Chestnut Ridge Road in 1988.

The seller, Ingersoll Rand, is a global leader in air and electric power tools, material handling equipment, fluid handling products and dispensing systems, and has had its corporate headquarters in Woodcliff Lake, New Jersey, since 1972.

BMW plans to renovate the 130,000-square-foot building, including upgrades for energy efficiency. Once work is complete, it will begin to move employees into the new building. Currently, about 700 BMW employees are located in one of three offices in the Woodcliff Lake vicinity.

BMW of North America, LLC has nearly 2,000 employees in North America. In total, BMW Group employs about 7,200 people through its various entities, including nearly 4,700 people in Greer, South Carolina, home of BMW Manufacturing Co., LLC which builds BMW Z4 Roadsters and X5 Sports Activity Vehicles for sale around the world. BMW Financial Services employs approximately 500 people in the US with the majority of its workforce in Dublin, Ohio.

(April 8, 2004)

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