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California  + Orange County  + Office  | 

Tustin Light Industrial, R&D Asset Trades for $29M

EverWest Holdings and Bantry Holdings sold a fully-occupied, single-tenant light industrial/R&D building at 2441 Michelle Dr. in Tustin, CA for $28.9 million to Mitchell Company. The 117,805-square-foot property is leased to Canon Medical Systems USA (formerly Toshiba Medical Systems), which has occupied the building since shortly after it was developed in 1983.

The property recently underwent an extensive renovation that wrapped up in 2018. It sits on roughly six acres and is near the 5 and 55 freeways, as well as The Tustin/Irvine Marketplace, and The District.

Lee & Associates’ Tom West represented the buyer. NKF’s Scott Read, Paul Jones, Kevin Shannon, Bret Hardy, Blake Bokosky and Brandon White advised the sellers.

Jones says, “Canon has been a tenant at this location for decades and utilizes the building for its domestic headquarters. This institutional-quality asset offers the new ownership a cash-flowing net-leased facility in a high barrier to entry Orange County market.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition