CBRE Announces 34K-SF Industrial Lease To EV Company

CBRE has arranged a 34,938-square-foot lease to Rivian at Shader Logistics Center, a last-mile industrial outside storage facility in Orlando.

Rivian, an American automotive manufacturer that develops and builds category-defining electric vehicles and accessories, has fully occupied the property, which serves as its Orlando headquarters for vehicle maintenance and warehousing. The new location is expected to employ 25 workers.

David Murphy and Monica Wonus with CBRE represented the owner, Ultimate Realty, a New York City based real estate company. Danielle Beyer and David Perez with Cushman & Wakefield represented Rivian.

The property, which had been occupied by a call center tenant since 2004, was vacated during the pandemic and fully redeveloped by Ultimate Realty and JV partner Amstar for a viable long-term industrial use. Located at 4000 Shader Road, the industrial outdoor storage (IOS) facility is 34,938 square feet and sits on 6.4 acres. The infill warehouse includes over 400 parking spaces which Rivian will use for its vehicles.

“Shader Logistics Center is a rare gem in Orlando’s Northwest submarket. Credit goes to Ultimate Realty for its vision in repositioning this single-story, vacant office building into an IOS facility. Equipped with heavy power and an open workspace layout, Ultimate’s investment thesis has proved to be a natural fit for Rivian Automotive,” said CBRE Vice Chairman David Murphy.

“We see the Shader Logistics Center asset as a prime example of the opportunity set for underused, but viable, hybrid office space in the current macro environment, and how these types of properties can be repositioned to add value to and revitalize local communities on a long-term basis,” said Ultimate Realty founder Joe Sabbagh.

Situated within the Center of Commerce Industrial Park just minutes from The Packing District, the building provides easy access to all major roadways for city- and statewide distribution.