(Read more on the industrial market.)

|

RIVERSIDE, CA-Kia Motors America will relocate its nationalparts distribution center to a 403,956-sf facility at the formerMarch Air Force Base in a deal engineered by Studley. The new KiaMotors distribution center will be at 15001 Meridian Parkway in themasterplanned Meridian Business Park and will be an expansion fromthe auto maker's 258,450-sf facility at 14101 Pipeline Ave. inChino.

|

Studley's David Kim, corporate managing director, and ReidWilbraham, associate, both of the firm's downtown Los Angelesoffice's industrial services group, represented the automanufacturer in the 10-year lease with Meridian Business Park'sdeveloper, LNR Property Corp. LNR was represented by Frank Geraci,Walt Chenoweth and Dan De la Paz of CB Richard Ellis.

|

The lease at Meridian includes a right of refusal option toexpand into the building's remaining 85,300 sf. Kim says that Kiaevaluated options in markets from the City of Industry to Redlands,ultimately selecting what the company found to be the best locationfor its logistics, occupancy and human resources needs.

|

Kim adds that moving to the Riverside area will allow Kia MotorsAmerica to take advantage of lower-cost real estate alternatives inthe Eastern Inland Empire with minimal impact on its logisticscosts. To date, Studley has represented Kia in 12 office andindustrial lease transactions across the country totaling more thanthree million sf.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.