Lee & Associates Kansas City Negotiates Lease for Canadian Auto Parts Manufacturer
Martinrea International will occupy a new 275,560 SF building in the build-to-suite lease
RIVERSIDE, Mo., --April 24, 2014—Martinrea International, one of the largest global Tier 1 auto-parts suppliers, has signed a long-term, build-to-suit lease to occupy a 275,560-square-foot building that is expected to be completed by early 2015. The industrial facility, which is situated on 15.22 acres, will be located at 5233 NW 41st Street in the Riverside Horizons Business Park in Riverside, Mo.
Additional terms of the transaction were not disclosed.
Erik Murray, SIOR, CCIM, and Nathan Anderson, SIOR, CCIM, managing principal of Lee & Associates Kansas City, negotiated the long term lease that represents a significant, but undisclosed, capital investment in the area and is expected to create 290 new jobs.
“Martinrea is a first-class company and a real win for the entire Kansas City metro area. Their new facility in Riverside will be a state-of-the art assembly and distribution facility and we’re very proud to have been a key component of their team throughout the site selection process." said Murray.
The industrial building, which is being developed by the Tutera Group, led by Joe Tutera in conjunction with Crossland Construction and Davidson Architecture & Engineering, will supply components to General Motors Fairfax plant for the new Chevy Malibu. Lee & Associates, the development team, and representatives from the Kansas City Area Development Council visited Martinrea's Canadian plants and headquarters earlier this year to help secure this landmark project for the Kansas City region.
“This new facility will be the first of its kind for a Tier 1 supplier in that it will include stamping, welding, e-coating, and assembly operations all under one roof, creating time and cost saving efficiencies for both Martinrea and their GM client,” according to Murray.
Martinrea International Inc. is a Canadian auto parts manufacturer based in Vaughan, Ontario with 38 locations globally, including 12 plants in North America. It manufactures metal parts, assemblies and modules, as well as fluid management systems, for the automotive industry and other industrial sectors, and has operations in Canada, the United States, Mexico, Europe, and Asia. The company is publicly traded on the TSX in Canada and has annual sales in the billions of dollars.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin that house more than 750 brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com