San Jose, Calif. (June 23, 2014) – Toyota Tsusho America, Inc. (TAI), a trading and supply-chain subsidiary of the Toyota Group, has completed a 5-year lease transaction for 64,396 square feet at 41470-41490 Boyce Road, Fremont, California. The property is owned and operated by Prologis, a leading owner, operator, and developer of industrial real estate. Kidder Mathews commercial real estate brokers, Craig Leiker, executive vice president, and James Viso, senior associate, represented TAI.
Since 2010, TAI has been working out of the Tesla Motors production facility (formerly the NUMMI plant) providing support in electric vehicle development, production systems, and engineering services. As Tesla expands their model line to produce the new Model X (SUV) and Model E (an economic/lower priced vehicle), they are requiring more space, so TAI will relocate.
“The landlord, Prologis, worked diligently with both TAI and Tesla to put together a lease that would meet their needs. Warehouse space in Fremont is at a very low vacancy rate of 5%, so finding a new home for TAI was a challenge,” said Viso.
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Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 450 real estate professionals and staff in 9 offices in Washington, Oregon, and California. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $2.9 billion in transactions, manages 30 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit www.kiddermathews.com.