JUST SOLD

1382 BELL AVENUE

100% Leased | Hi-Image Corporate Headquarters, 120,000 Square Feet

1382 Bell Avenue | Tustin, California


Cushman & Wakefield is pleased to offer for sale 1382 Bell Avenue (“the Property”), a 100% leased flex industrial manufacturing and distribution building totaling approximately 120,000 square feet located in Tustin, California. Situated on nearly 6 acres of land within Orange County’s booming Greater Airport Area submarket, the Property is 100% leased to the Balboa Water Group. This opportunity is being offered unpriced on an “as-is” basis for the fee interest in the building and land thereunder.

This offering is a highly attractive opportunity to acquire a fully leased value-add flex industrial asset in Orange County, one of the strongest infill industrial markets in the nation.


 

Premiere Location in an Amenity Rich Environment

Located at the heart of Orange County’s primary business district, the ease of access to key freeways and popular transportation options provides tenants with the coveted ability to attract talent from throughout the Orange County area.

  • Situated less than from the 55 Freeway and just three miles south of the I-5 and SR-55 freeway interchange, the Property boasts one of the top logistical locations in Southern California with direct access to all the major freeways.
  • Located less than 3 miles from John Wayne International Airport.
  • Adjacent to Tustin Legacy and The District at Tustin Legacy, there are over 1 million square feet of existing and planned retail amenities within walking of the Property.

100% Leased

The Property is 100% leased to Balboa Water Group and serves as their headquarters and primary global manufacturing location. With nearly three decades of history, Balboa Water Group is one of the leading providers of world-class products for whirlpool bath and hot tubs.

Highly Desirable Submarket for Ocupiers

The Property’s location within the Greater Airport Area submarket is a major benefit as it is a top choice for executives and employees looking for a range of high-quality housing, excellent schools – such as the world renowned University of California, Irvine and terrific proximity to amenities and entertainment with superb transportation infrastructure.

Positive Market Fundamentals & Long Term Stability

The Greater Airport Area submarket absorbed over 894,400 square feet during the past 30 months, experienced positive net absorption in 9 of the last 10 quarters, and has seen a 12.6% increase in asking rents over the past 4 quarters.

Discount to Replacement Cost

1382 Bell is a premier flex industrial headquarters in Orange County, capable of accommodating the broadest range and most demanding tenant occupancy requirements. The Property is expected to trade at a discount to the estimated replacement cost as high construction costs and lengthy time needed for permitting and approvals, coupled with supply constraints, have created significant barriers to entry for competitive development.


Investment Advisors

Jeff Chiate
Executive Managing Director
949.930.9234
jeff.chiate@cushwake.com
License 01040222

Rick Ellison
Executive Managing Director
949.930.9231
rick.ellison@cushwake.com
License 01196428

Mike Adey
Senior Associate
949.930.4376
mike.adey@cushwake.com
License 01921139

Jeffrey Cole
Executive Managing Director
949.955.7652
jeff.cole@cushwake.com
License 00833681

Ed Hernandez
Director
949.930.4380
ed.hernandez@cushwake.com
License 01048813

Nico Napolitano
Associate
949.955.7642
nico.napolitano@cushwake.com
License 01962860

Market Advisor

Randy Ellison
Director
949.930.4371
randy.ellison@cushwake.com
License 01469586