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Tishman Speyer, Mitsui Fudosan Set Sights on Irvine for Industrial Build
Tishman Speyer and Mitsui Fudosan America, Inc. have acquired a 31.9-acre, fully-entitled development site at the Great Park Neighborhoods mixed-use community in Irvine. Terms of the deal were not disclosed.
The site will be developed with four industrial buildings totaling approximately 600,000 square feet. Sizes will range between 73,000 and 203,000 square feet, designed to be highly flexible and easily divisible, allowing for a variety of users.
The South Orange County industrial market has seen virtually no new developments since the late 1990s, and most of the inventory is now between 30 and 40 years old. Construction on the first phase of the project is slated to begin during the fourth quarter of 2024.
“Great Park Neighborhoods is a perfect example of the type of ground-up development that we envisioned when we created our industrial platform with Mitsui Fudosan America,” said Tishman Speyer managing director and head of industrial Andy Burke.
- ◦Development
