Colliers is pleased to present the fee-simple investment opportunity to purchase the Pacific Tustin Commercenter in Tustin, California. The Pacific Tustin Commercenter is a Class A, 68,345-square-foot two-building industrial / R&D flex project. It also includes a long-term NNN ground lease to Quick Quack Car Wash on an approximate 193,842-square-foot parcel located on the signalized corner of Red Hill Avenue and Edinger Avenue. The property is 100% leased to a high-quality roster of 12 tenants ranging in size from 3,615 to 9,896 square feet. In addition, Quick Quack Car Wash recently signed a long-term NNN ground lease at the premier corner in Tustin. These attributes, in addition to a strong occupancy history and rent profile, make Pacific Tustin Commercenter a very attractive asset suited to a long-term core-like investment strategy. The building structures were built in 1985 and have been meticulously maintained to institutional standards.
The Pacific Tustin Commercenter is on the signalized corner of Edinger Avenue and Red Hill Avenue. It is in the heart of the Central Orange County submarket. It offers immediate access to the Costa Mesa (55) and Santa Ana (5) freeways, as well as proximity to the John Wayne Airport, the San Diego (405), and (261 & 241) Transportation Corridors.
Of the 3 miles surrounding the subject asset, approximately 34% of the local population (219,967) has attained a bachelor’s degree or higher, emphasizing the skilled and well-established workforce of the area. The average household income is shy of $120,000, and more than $2.6 billion is generated annually via consumer spending. Of the 185,313 daytime employees, 92,568 report to compatible employment realms of the center, such as trade transportation & utilities, professional & business services, and manufacturing.
Inquire today to learn more about the opportunity to acquire the 100% leased asset ready for a smooth lease rollover profile and a projected revenue increase based on a rising rental rate environment.