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8/17/22
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A brand new, 219.8k sf, Class A industrial/logistics project nearing completion in Tustin has been fully preleased to an undisclosed tenant. The freestanding single-tenant building, located at 14451 Myford Rd, is owned and being developed by the joint venture of Panattoni Development Company and Link Logistics Real Estate.
The freestanding building features a two-story, 9k sf office, 36’ minimum clear height, skylights, ESFR sprinkler system, 47 dock doors and two grade doors, ample auto and trailer parking, 132’ truck courts that is fenced and gated, and 100% concrete paving. The property is located at the nexus of Interstate 5 and CR 261 and sits in close proximity to Interstate 405 and SR-55 and the John Wayne Airport.
Cushman & Wakefield’s Rick Ellison, SIOR, Randy Ellison and Kyle McGillen represented the landlord in the transaction. According to Ellison, 14451 Myford is a best-in-class industrial project strategically located in Orange County, convenient to the Ports of Long Angeles and Long Beach, the busiest port complex in North America, an extensive freeway network, two major airports John Wayne and LAX, and a massive population center.
According to Cushman & Wakefield’s latest Q2-2022 industrial market report, Orange County maintained a tight vacancy rate of just 1.5%. New leasing activity picked up in the second quarter totaling 2.6 msf compared to 2.2 msf in Q1 2022.
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