X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

TUSTIN, CA-Voit Development Co. has sold all 19 buildings in its 266,865-sf Tustin Gateway Business Park, an industrial park on Warner Avenue and Bell Avenue at the site of the former one-million-sf Steelcase facility. The business park was developed on half of the Steelcase site after Voit redeveloped the site to utilize 500,000 sf of the Steelcase facility as an industrial distribution building, which it then sold to Bedrosians Tile and Marble.

James Camp, SVP at Voit Development, says that the sale of all of the buildings at Tustin Gateway illustrates the continued demand for small and mid-size industrial spaces in Orange County, where industrial buildings for sale to owner-users have been a hot commodity for a number of years. The project site is within the Irvine Business Complex, close to retail, restaurants, hotel facilities and the new Tustin Legacy development.

The 19 buildings include six that are freestanding and range from 19,000 sf to 38,000 sf, as well as 13 industrial condominiums ranging from 3,900 sf to 8,200 sf. Voit Development Company sold the freestanding buildings to buyers that customized the shell space to fit their specific needs. The smaller condominium buildings included tenant improvements.

Art Smith, VP of investment services for Voit Development Co., oversaw the project management of Tustin Gateway Business Park. Jeff Mitchell and Trent Walker of Voit Commercial Brokerage’s Irvine office represented the developer in the sales of all 19 of the buildings, which were acquired by a broad range of businesses for prices ranging from $760,000 to $4.5 million.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

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

Get More Information
 

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.