Hyundai Glovis, a South Korea-based logistics and supply chain company and an affiliate of Hyundai Motor Group, has purchased a five-story office building in Irvine, California, investing $21.57 million to establish a permanent U.S. headquarters.
The acquisition aligns with the expiration of its previous lease and marks a strategic step to ensure stability and long-term growth in the U.S. market.
Several media outlets reported that Hyundai Glovis acquired the property located on Von Karman Avenue in Irvine, with a total site area of 2.97 acres. The final purchase price was reported at $22.10 million.
The company’s previous lease expired in April, and the building acquisition was finalized shortly thereafter. Hyundai Glovis, which has been expanding its business in the U.S. with its local subsidiary based in Irvine, now plans to further strengthen its market presence with a permanent headquarters facility.
The building was originally completed in 1999 and was acquired at approximately $167 per square foot, which analysts consider a competitive market rate.
Industry observers say the deal reflects more than just a real estate purchase-it represents Hyundai Glovis’s broader commitment to long-term business expansion in the United States.
“Securing a dedicated headquarters will enhance Hyundai Glovis’s competitiveness in the U.S. and allow the company to focus more intensively on future growth opportunities,” one real estate expert commented.
