Hyundai’s electric transportation subsidiary acquired a 44,609-square-foot warehouse in Riverside for $15.5 million, or $347-per-square-foot. The new construction building located at 2078 Rustin Ave. was acquired by the Cerritos-based U.S. subsidiary of the automotive giant. Hyundai’s Rotem Smart Electric Group builds high-speed trains, locomotives and trams.
The company is one of three train-building companies that participated in a pre-bid conference for California’s high-speed rail project that aims to begin carrying passengers between Merced and Bakersfield by 2030. The brand-new building is set to be completed by the end of the year and features 30-foot clear heights, one ground level door and five dock high doors.
