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6/10/25
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A private investor purchased a 35.6k sf industrial property fully occupied by a Tesla Collision Center in Irvine, for $21 mil ($590/sf). Tesla Inc has a 10-year, corporate-guaranteed triple net lease in place with options to extend.
Representative photo of a Tesla Collision Center |
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The property sits on 2.44 acres at 18011 Mitchell South, just east of the 55 Fwy and north of I-405. It was renovated in 2024 with both Tesla and the seller executing a major tenant improvement build-out for use in their collision center vertical.
Pat Weibel with SRS Capital Markets represented the seller, North Palisade Partners, a Los Angeles-based developer. Mac Mace and Rob Rader of Topside Real Estate, who handled leasing for the seller, also advised on the sale with Weibel. The buyer was repped by Pat Lacey of Costa Mesa-based Tidemark Real Estate.
“This institutional grade asset garnered significant investor interest. It offered a well-known tenant on a long-term lease in an affluent demographic base in the heart of Orange County, on the border of Irvine and Newport Beach, which is also home to a high rate of Tesla ownership and other EV adoption,” said Weibel. “We received national and international buyer interest from every active investor class including institutional, private high net worth family offices, 1031 exchange groups, and even non-traditional real estate investors within the automotive and green energy spaces, that were looking at alternative investments.”
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