Air Force Announces Unique Real Estate Opportunity in City of Norwalk, Calif. Published Feb. 11, 2008 SACRAMENTO, Calif. -- The U.S. Air Force announced today its intentions to exchange approximately 50 acres of valuable land commonly known as The Norwalk Defense Fuel Supply Point property. The property will be transferred under the Real Property Exchange Program (RPX). This program allows the Air Force to exchange the property and receive as consideration the construction of replacement facilities or additions or alterations to existing facilities on government property at March Air Reserve Base in Riverside, Calif. The future land use of the property will be determined in accordance with the City of Norwalk's master plan and zoning designation. Developers will be advised of their responsibility to work with the City regarding entitlements, such as zoning and permits. The Air Force is required by federal law to obtain fair market value for the property. Air Force officials have shared their plans with Norwalk city officials and look forward to continuing to work with the City. The Air Force intends to expedite property disposal to help economic development, job creation, and to open the property to potential uses such as park, commercial and light industry. The Site The Norwalk Defense Fuel Supply Point consists of Air Force property formerly used by the Defense Logistics Agency/Defense Energy Support Center (DLA/DESC) to store and distribute fuel. The facility was constructed in 1923. In 1951, the Air Force acquired the then approximately 70-acre parcel. Over time, portions of the property were conveyed for school and park use (Holifield Park). In 1970, the remaining 50-acre parcel was transferred to DLA/DESC under Air Force ownership, and the property has been operated by various subcontractors since that time. The property was declared excess to the military in 2001 and surplus to the federal government in 2004. The property, located at 15306 Norwalk Boulevard, Norwalk, Calif., includes approximately 50 acres and is bounded on the west by Norwalk Boulevard, on the north by Excelsior Drive, on the east by a public park, and on the south by a residential neighborhood. The property consists of 12 above-ground tanks and associated piping, a truck loading facility, and numerous small buildings. When operations ceased at the property in 2001, DESC removed all fuel from the tanks, secured the tanks, and cleaned and shutdown all pipelines. Parcel map showing nearby roads that border the property. Click the image to expand. The Disposal Process The Air Force is planning to conduct a competitive public disposal process whereby the property will be exchanged for military construction projects of value comparable to the property's fair market value. The military construction projects will improve infrastructure at March ARB, the nearest Air Force installation. Industry Day The Air Force intends to hold an "Industry Day" on March 6. This forum creates an opportunity for interested parties, including real estate developers, building contractors, private equity lenders and others, to learn about this unique opportunity. Details on the Norwalk Fuel Depot RPX will be communicated during this two-day event. Norwalk Industry Day Marriott Norwalk - Norwalk, Calif. Thursday, March 6, 2008 8:00AM-2:30PM Tour of March ARB March ARB - Riverside, Calif. Friday, March 7, 2008 9:30AM-11:30AM For additional details and to register for Industry Day, please visit: https://www.enstg.com/Signup, code: AIR26379.