Acacia Properties is about to break ground on three speculative industrial buildings totaling 73,000 sf on one of the last parcels of the A.J. West Ranch development in this fast-growing area of Orange County.

Dave Pittman, a principal at Newport Beach-based Acacia Properties, expects construction of the three buildings, which will range from 20,000 to 27,000 sf—to begin this week. The buildings will be available for sale at $205 per sf or for lease at $1.65 triple-net, Pittman says.

“We’ve closed escrow [on the land purchase] and we’ve already had interested parties wanting to purchase one of our buildings,” Pittman tells The complex will front Bake Parkway and will be visible from the Foothill Transportation Corridor.

Pittman says Acacia Capital also recently completed construction of a 43,566-sf flex-tech building at Alton Parkway and Hughes in the Irvine Spectrum and is already in “serious negotiations” with a prospective tenant who wants the entire building.

“We’re looking for other opportunities to do some more projects in Orange County,” says Pittman, a former partner of Los Angeles-based Zelman Development. “We’re totally focused on Orange County. We think it’s still a strong market and there’s still some opportunities to pursue, especially in north Orange County in the industrial sector.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt Net Lease Spring 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.