California + Orange County + Industrial | June 16, 2023

Panattoni Plans Tustin Development Near Rivian-Leased Facility

Panattoni Development Co. has submitted plans for an industrial facility in Tustin spanning 143,437 square feet next door to one of its latest local development projects, which is now occupied by electric vehicle manufacturer Rivian Automotive Inc.

An affiliate of the Irvine-based development firm acquired two adjoining parcels on Myford Road in separate deals last year totaling nearly $41 million, according to the Orange County Business Journal.

The two sites, at 14321 and 14351 Myford Road, currently hold a 57,330-square-foot building and an 82,000-square-foot building, respectively, which will be demolished to make way for the new project. The proposal includes a 143,437-square-foot warehouse, 5,000 square feet of mezzanine office area and 19 truck docks as well as 103 parking stalls.

Panattoni paid a total of $40.6 million for the two sites, acquiring 14351 Myford in March 2022 and 14321 Myford the following August. Both buildings date from the 1970s.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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