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Kia Motors Expands Industrial Space in Estimated $22 Mil Lease

ATLANTA-The auto company's distribution and training center now leases an entire 451,000-sf building in Newpoint Distribution Center in the northeast metro area. The estimated 10-year lease includes 322,000 sf leased last summer.

By Judith Schonbak | Updated on January 02, 2001

ATLANTA-Kia Motors America Inc. is leasing a 451,000-sf industrial building in Newpoint Distribution Center for an estimated 10 years with an estimated value of $22 million. The Korean auto company’s Atlanta parts and distribution and training facility leased 322,000 sf last summer and in mid-December took the remaining 129,000 sf for a total 451,000 sf. Rental rates in the area are between $4.50 per sf and $7 per sf.

The additional space is necessary to serve its dealers for Kia’s new car line, according to the company. The Atlanta facility provides automotive parts to more than 170 dealers in 15 states. The center also provides training for mechanics and technicians in its area.

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