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2/21/20
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North Palisade Partners LLC has acquired the Tesla Motors showroom in Costa Mesa for $9.6 mil. The 23.7k sf ($405/sf), Class A showroom building at 3140 Pullman St represents North Palisade’s first commercial real estate acquisition in the Orange County market.
The investment and development firm purchased the building earlier this year from the Steven C. Millen Family Trust. Located in the heart of Orange County’s airport area submarket along the 55 Fwy, the Pullman site serves as Tesla’s largest sales and delivery center for the Orange County marketplace. Tesla’s 40k sf service center for Orange County customers is located nearby at 3120 Pullman.
North Palisade Partners, led by Managing Partner Joe Mishurda, has acquired seven industrial and logistics assets representing $80 mil of total capitalization since its founding in 2018. The assets, four existing buildings and three development sites, are well-located properties in Southern California, including Rancho Cucamonga, Commerce, Lynwood and San Dimas.
Richard Schwartz with Colliers International represented North Palisade in the deal. Dale Camera with Lee & Associates repped the seller in the transaction.
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