 |
| 71,616-SF high-tech manufacturing building, Tustin, CA |
TUSTIN, CA – Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, has acquired a 71,616 square-foot high-tech manufacturing property in the Orange County submarket of Tustin, California from a private seller for $19.2 million.
“This asset is well-suited to serve the life sciences and specialized R&D sectors, making it a strategic addition to our growing portfolio as the appetite in Orange County for these properties continues to grow,” says CJ Stos, Principal of Stos Partners.
CJ Stos
“This
past year, demand in the market has far outpaced supply with only 239,000
square feet currently under construction dedicated to life
sciences space.”
The existing tenant will vacate the asset upon the end of its current lease term in March, notes Stos.
“The life science and specialized R&D industries are rarely impacted by market fluctuations as there is always a need for these services,” says Stos.
“Once the current tenant vacates, we plan to lease up the building to a specialized manufacturer who will benefit from the property’s strong location and high-tech features, positioning the asset for stable cash flow and upside potential amidst tightening vacancies over the next several years.”
Contacts:
Katie Haga / Elisabeth Manville
The Smart Agency, Inc.
(949) 438-6262
No comments:
Post a Comment