NAI Capital Negotiates Sale of 43,160 SF Tustin Corporate Center in Tustin, CA
Irvine, CA Tuesday, June 27, 2017–Senior Vice President John Manion and Associates Jeanene Stolrow Austin Hillemann with NAI Capital’s Irvine office negotiated the sale of a 43,160 square foot office building in Tustin, Calif. The transaction totaled $3,250,000 or $75.30 per square foot. Manion, Stolrow and Hillemann represented the buyer, Harbor & Associates. The seller was C-III Realty Services.
Tustin Corporate Center is located at 18302 Irvine Boulevard. Built in 1983, the building was updated in 2005. Tustin Corporate Center is a three-story Class B office Building situated on 1.05 acres. The property enjoys great visibility on the southeast corner intersection of Irvine Blvd and Holt Ave, with signage out front. Tustin Corporate Center has excellent transportation access. The Property is less than a mile and a half from the interchange of Interstate 5 and Highway 55. Interstate 5 runs northwest and southeast down the coast of California. Highway 55 runs north and south connecting to Newport Beach on the coast. In addition, it has great local area amenities like restaurants, banking and retail stores. The property was approximately 91% vacant at the time of the sale.
Manion said, “This is an exceptional value-add opportunity for my client to acquire office product in a market where office space remains tight. Tustin Corporate Center has great bones and is in a good location. A comprehensive rebranding and renovation of this project will yield my client a great return on their investment.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,700 professionals spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #00806840.
To learn more, visit www.naicapital.com.
About NAI Global
Founded in 1978, NAI Global is a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,700 professionals located throughout North America, Latin America, Europe and Asia Pacific. The firm manages over 380 million square feet of property on behalf of its clients, globally. The NAI Global Capital Markets Group serves the largest institutional owners of and investors in commercial real estate.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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