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10/18/24
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Tustin Financial Plaza, a 185.2k sf multi-tenant office property in Tustin, sold in a recent $27.5 mil ($148/sf) transaction. The five-building asset, located at 17772, 17782, 17822, 17852 and 17862 East 17th St, was purchased by a local investment firm.
Built in 1973, the plaza was 70% occupied at the time of sale. Four of the five buildings are two floors in height, while the fifth building stands four stories tall. The property has ample parking, with 533 spaces. The plaza sits on 8.56 acres on the southeast corner of 17th St and Prospect Ave, minutes from State Route 55.
CBRE Investment Properties' Anthony DeLorenzo, Sammy Cemo and Bryan Johnson, along with Greg Sullivan, represented the seller, Sagard Real Estate, in the transaction.
"The property offers a variety of investment opportunities for the new ownership," said DeLorenzo. "This was an extremely rare opportunity to purchase an 8.56-acre office property, as reflected by the strong market demand and 22 offers we received."
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