PRP Real Assets has acquired Hyundai-Mobis’ newly built redistribution center in Montgomery, Alabama, for $66.5 million and committed another $30 million to expand the facility. The planned addition will increase the site’s footprint by more than 240,000 square feet, strengthening Hyundai’s nationwide aftermarket-parts network and its broader Alabama operations.
Key takeaways
- PRP Real Assets purchased the facility for $66.5 million.
- Hyundai-Mobis occupies the entire center under a 14-year lease backed by a corporate guarantee.
- A further $30 million investment will add more than 240,000 square feet.
- The center supports Hyundai, Kia, and Genesis dealers across the United States.
A mission-critical logistics facility
The Class-A redistribution center encompasses more than 450,000 square feet and serves over 2,000 dealers nationwide. It is the primary U.S. redistribution hub for aftermarket service parts supporting Hyundai, Kia, and Genesis.
The property was delivered in September 2025 on a 60-acre site. Its logistics infrastructure is integrated into Hyundai’s 1.6-million-square-foot Montgomery campus, positioning the facility as an essential part of the automaker’s distribution and service-parts network.
Expansion will add significant capacity
PRP Real Assets has agreed to provide approximately $30 million in additional funding for the facility’s expansion. The project will add more than 240,000 square feet and is supported by the site’s existing entitlements, allowing the property to grow within the current campus framework.
Once completed, the expansion is expected to give Hyundai-Mobis additional capacity to handle parts distribution as the automaker’s U.S. operations continue to grow.
Long-term occupancy supports the investment
Hyundai-Mobis occupies 100% of the building and has committed to a 14-year lease. The lease is guaranteed by Hyundai-Mobis, providing long-term occupancy and credit support for the newly completed industrial asset.
For PRP Real Assets, the transaction combines a newly built logistics property, a long-term industrial tenant, and a planned expansion. Those features reflect continued investor interest in specialized distribution facilities tied to established manufacturing and automotive supply chains.
Part of Hyundai’s broader U.S. expansion
Hyundai-Mobis is part of Hyundai’s larger domestic investment strategy. The company has committed $26 billion to U.S. operations through 2028 and plans to increase domestic manufacturing capacity by 64%.
The Montgomery project therefore extends beyond a single real estate transaction. It supports the infrastructure required to serve a growing vehicle fleet, maintain aftermarket parts availability, and reinforce Hyundai’s expanding manufacturing presence in the United States.