(Updated with additional information)

NAI Capital Commercial EVP David Knowlton and SVPs Kirby Greenlee and Mariko Beaver completed a 75-year ground lease for 9.5 acres at South Orange County Community College District ATEP campus in Tustin. The team represented the landlord, South Orange County Community College District (SOCCCD). The transaction was valued at $264.8 million.

The SOCCCD board approved Advantech Co., a Taiwanese-based maker of industrial PCs, embedded Internet of Things devices and other tech products, to build a six-story, 108,942-square-foot office building on the District’s Advanced Technology and Education Park (ATEP) in the Tustin Legacy area.

The company is also expected to construct an additional two-story, 78,837-square-foot warehouse facility for storage, light manufacturing, repairing, and packaging non-hazardous industrial computer-related products. Kidder Mathews SVPs Oliver Ternate and Eric Tse represented Advantech.

The new development, spanning nearly 10 acres at the intersection of Red Hill Avenue and Victory Boulevard, is set to be one of the larger R&D projects in Orange County in recent years. It will serve as Advantech’s largest campus development to date. Currently operating from a roughly 27,000-square-foot building in the Spectrum area of Irvine, Advantech anticipates relocating its U.S. operations to the new North American headquarters in late 2025.