Radius principals tell GlobeSt.com that the immediate businessplan for the Tustin Financial Center is to complete the retenantingto a multi-tenant office building. They note that 90% of thebuilding was leased at the time of the sale and that 57% of thespace will be coming available for lease in the second quarter of2008.

The Tustin Financial Center was originally constructed as asingle-tenant building in 1978 for Texas Instruments. It wasextensively renovated in 2006 to convert it to a multi-tenant,institutional quality office building, which benefits from itscentral location in the Tustin/Irvine marketplace at theintersection of Myford Road and Walnut Avenue, one block offJamboree Road.

Rhonda Henderson, executive vice president and one of thefounding partners of Radius, cites the historically low vacancyrates in the Orange County office market, which has consistentlybeen one of the top-performing office markets in the country inrecent years. She adds that the acquisition follows the Radiusstrategy of "buying very well-located multi-tenant office buildingswhere we can add value with our repositioning experience."

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