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8/12/15
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Electric auto maker Fisker Automotive and Technology Group LLC has signed a long-term lease agreement to occupy a 555.7k sf industrial building in Moreno Valley, where it will manufacture its ultra-luxury, plug-in electric hybrid Karma sports car. Fisker’s decision to locate its manufacturing plant in Moreno Valley makes it the first automaker to operate an assembly plant in Southern California since 1992, when General Motors closed its Van Nuys facility, used to build Camaros and Firebirds.
With the City of Moreno Valley offering a number of incentives, including favorable rates on electric power, the auto maker also was attracted to the site by the facility’s 1,600-foot building length and 36-foot clear height. The move is expected to bring 150 high-skilled jobs to the area.
The building was constructed on a spec basis by Chicago-based First Industrial Realty Trust, one of the largest institutional developer-owners of industrial properties in the U.S. The property is at 17100 Perris Blvd, east of I-215 and north of Ramona Expwy.
"We are excited that Fisker has chosen our most recent Moreno Valley Development as its new home," said Larry Cochrun, director of development for First Industrial Realty Trust. "Our building in Moreno Valley offered the right features and access to a talented and diverse workforce to support Fisker's growth plans."
Fisker was represented in the transaction by Colliers Executive Vice President Ian DeVries and Associate Chris DeVries. First Industrial Realty was repped by Colliers Executive Vice Presidents Kevin McKenna and Ian DeVries. Terms of the deal were not disclosed.
“The promise of new jobs drives local communities and these are high-skilled jobs,” Ian DeVries and McKenna said in a statement. “This is an important and valuable victory for the City of Moreno Valley, for the Inland Empire and for California to see manufacturing coming back to the state.”
Corporate neighbors include Amazon and Procter & Gamble, which both signed long-term leases on other facilities in the Moreno Valley in the past few years, as well as other major corporate entities who favor the region for its location close to nearby surface, rail and air transport options. It also has direct access to the ports of Los Angeles and Long Beach.
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