BLT Leases Costa Mesa Industrial to Hyundai Dealership Group
BLT Enterprises, a real estate investment company, has fully leased its recently acquired 3.11-acre industrial site in Costa Mesa, which includes a 12,588 square foot truck and automotive maintenance facility and office building. The tenant, a group of local Hyundai dealerships, entered into a five-year lease agreement to occupy the site.
“When we purchased this property late last year, we knew the key feature of this asset would be its low coverage and highly functional maintenance facility,” said Lukas Huberman, VP and director of acquisitions. “The entirety of the property can be used by the tenant.”
The dealership group, which includes Hyundai of Huntington Beach, Hyundai of Anaheim and Hyundai of Garden Grove, will use the property as a reconditioning, repair, and storage facility for its fleet of new and used vehicles. BLT Enterprises was represented in the lease by Jace Gan and Clyde Stauff with Colliers