120K-SF Lease Marks Significant Commitment to Tustin
A 120,000-square-foot flex building in Tustin was recently leased to the county of Orange. With very few available properties of this size in the surrounding area, the lease marks a significant commitment to the local market.
Owned by SteelWave, the project is located at 1382 Bell Ave. on a 5.9 acre parcel between the 55, 405, and 5 Freeways. The building will be built out to the county’s exact specifications to include a majority finished office space.
“The size and tenure of this tenant speak highly to the already changing landscape of this area and reaffirms our belief in this submarket,” said Jonathan Hastanan, managing director of acquisitions and development for SteelWave.
Michael Hartel and Nick Velasquez with Colliers teamed up with Ross Bourne of CBRE to represent the landlord in the transaction. Joe Bevan and Wade Clark of JLL represented the County of Orange. JLL has a policy of not disclosing length or term of lease.
“There is a real scarcity of available buildings over 100,000 square feet in the OC Airport Area. That being said, tenants of more than 100,000 square feet are equally unique. It was a perfect match,” said Hartel.