COPPELL, TX-Hyundai Motor America has nailed down the location of its fourth regional sales and training center in the US, signing a long-term, flat-rate lease for 30,300 sf in Coppell Business Center II. The operation will go live in January in temporary space in the building.

Talks began six months ago for the Rreef America building at 1421 S. Belt Line Rd. in Coppell. “There was a lot of extensive negotiations between the tenant and the landlord,” Kurt Griffin with Cushman & Wakefield of Texas Inc. says about the automaker’s decision to place the Southwest US center. In the past two years, identical facilities have opened in Chicago, Atlanta and Hyundai’s US headquarters location in Fountain Valley, CA.

The 67,200-sf warehouse is on the market for $8.50 per sf. Griffin tells that the final economic package had a high tenant improvement allowance so the class A, fully air conditioned, flex space could be divvied into 80% office and 20% training area, including the installation of racks so vehicles can be used for demonstrations. “We made a great economic deal on the space,” he says.

Griffin says the site search pruned a list of 25 to three possible locations. “The determining factors,” he says “were location and proximity to the airport…and it fronted on a major thoroughfare.” Hyundai also secured a building sign as part of the deal-making along with a first right of refusal on contiguous space and enough temporary space so the operation can begin in January, he says. The 30,300 sf will be ready to go in February.

The Grubb & Ellis Co. team of Gary Lindsey, senior vice president, and Robert Fulford, vice president, represented the San Francisco-based Rreef in the deal, but the reins have since been turned over to Dallas-based Robert Lynn Co. The six-year-old building has 20,100 sf empty, according to the North Texas Commercial Association of Realtors’ database.

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