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Tuesday, March 3, 2020

Black-Owned Bus and Commercial Truck Dealership to Build $15 Million Headquarters

Stephen and Koreal Neal, founders of K. Neal Truck and Bus Center

K. Neal Truck and Bus Center, one of the only two Black-owned commercial truck and bus dealerships in the country, has been continuously expanding its business and has recently invested over $15 million for the construction of its new and larger headquarters.
Run by father-and-son duo, Stephen W. Neal who is CEO and Korey Neal who is President, the Maryland-based company is making moves to better serve the community and further promote economic growth opportunities for people, especially minorities.

The company's most recent expansion would be built on an 8-acre land it has recently acquired. It will house a 40,000-square foot two-story headquarters and corporate facility that will allow a faster service to customers as it could boost the size of its operations.

The previous building used as headquarters since the 1960s was demolished to make way for the new building that would house all its administrative functions. New truck and bus bays are also added to serve more customers regarding their needs in logistics, warranties, and financing of vehicles.

Moreover, a new vertical lift modular that can house 15,000-square feet of parts inventory was installed, increasing the company's storage capacity as well as reducing the company's labor costs and inventory loss. A 4,000-square feet training, fitness, and kitchen center will also be built to encourage its about 100 employees' healthy lifestyle.

K. Neal Truck and Bus Center, which generated nearly $98 million in revenue in 2019, is hoping to increase the revenue in 2020. The company is currently serving the Washington, D.C. area and plans to also open commercial retail space on the new expansion.

For more information about K. Neal Truck and Bus Center, visit www.knealtbc.com