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12/28/21
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Stos Partners paid $19.2 mil for a 71.6k sf ($268/sf), high-tech manufacturing property in Tustin. The property is located at 1311 Valencia Ave, within the Irvine Business Complex.
The property is adjacent to Tustin Legacy, a 1,600-acre mixed-use development project. It features immediate access to the 55 Fwy and is four miles from John Wayne airport.
Competitive building features include drywall perimeter and interior walls with PCV liner panels, ample cleanroom space with a heavy-duty ceiling grid, a mechanical system including temperature and humidity control, storefront-style doors, automatic sliding doors, red-green light interlocks, exhaust fans and ducting, advanced hand wash systems, TransAire piping, and a Johnson DDC control system.
Once the existing tenant vacates the asset upon the end of its current lease term in March, Stos Partners plans to lease up the building to a specialized manufacturer who will benefit from the property’s strong location and high-tech features. This is expected to position the asset for stable cash flow and upside potential amidst tightening vacancies over the next several years.
Michael Hartel, Nick Velasquez, and Grant Clancy of Colliers International represented the seller and procured Stos Partners as the buyer in the transaction.
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