The City of Tustin has appointed CBRE as the exclusive listing advisor for the Cornerstone at Tustin Legacy office-development site.

TUSTIN, CA—The City of Tustin is setting the wheels in motion for Cornerstone at Tustin Legacy, a 43-acre office-development site here. The site, which will be the first phase of office development at the former Marine Base, is located along Barranca Pkwy. near the intersection of Red Hill and will serve as the south and west gateways to the 1,000-acre-plus Tustin Legacy project.

CBRE‘s Ted Snell, Chris Bates and Eric Snell have been selected to handle exclusively the marketing of the project to creative-office and R&D users. Primary targets include those in the tech, software and hardware industries; medical/health companies including health services, bio-med, medical apparatus and pharmaceuticals; financial-services companies; and active-apparel design.

Commencement of construction hinges on user activity, says Bates. “We’re looking for build-to-suit opportunities first, but we’re already seeing interest from developers who have expressed possible interest, so we’re very optimistic that this project will move forward very quickly.”

A significant emphasis is being placed on users looking for open-floor-plan environment and usable outdoor spaces, since creative-office space has been identified as an underserved aspect of the Orange County office market. “With retail, housing and public transit in close proximity, this project will take full advantage of the walkability, sustainability and green space that exists at Tustin Legacy,” says Ted Snell. “It’s extremely rare to find an office-development site of this size in an infill location in close proximity to amenities and a major airport.”

No information was available for regarding the size specifications of the planned development or any other specifics, but the Cornerstone project has the capacity to accommodate a variety of building sizes and offers potential expansion land. Infrastructure for the site, including the widening of Barranca Pkwy. in addition to Warner and Armstrong, is already underway and scheduled for completion by mid-2015.

According to Mayor Al Murray, “The development of Tustin Legacy and the Cornerstone site in particular represents a profound boost for the City of Tustin. The fact that an office-development site of this magnitude is moving forward is the clearest indication that momentum at Tustin Legacy is building strongly. We are committed to working with potential office users and developers to ensure this one-of-a-kind property is a true cornerstone in our city’s future.”