18302 Irvine Blvd
Tustin, CA 92780
The Bricks · Office Property For Sale

Value-Add Office in a Tight Submarket - Tustin Corporate Center is one of the few suburban mid-rise buildings in the submarket with attractive finish. This provides potential buyers the chance to capitalize on the scarcity of similar Class B office product in the area. The Parkcenter submarket itself is highly occupied, with a total vacancy rate of 9.6%.  However, Class B and C offices in the submarket have lower vacancy rates at 8.3% and 8.4%, respectively. Over the past twelve months, the submarket as a whole has experienced a vacancy rate drop of 2.8%, which has helped to boost rental rates. Visibility - The Property enjoys great visibility at the intersection of Irvine Blvd and Holt Ave.  The Building itself is situated on the southeast corner of this intersection, with signage out front. Additionally, the site is accessible from Newport Ave, another heavily trafficked thoroughfare in the city. The corner of Irvine Blvd and Newport Ave experience a traffic count of approximately 32,000 cars daily. Accessibility - Tustin Corporate Center has excellent accessibility due to its multiple points of ingress and egress onto major roadways. In addition, the Property is less than a mile and a half from the interchange of Interstate 5 and Highway 55. Interstate 5 runs northwest and southeast down the coast of California. Highway 55 runs north and south connecting to Newport Beach on the coast. Demographics - The area immediately surrounding the Property boasts impressive demographics. Within a 3-mile radius, there is a population base of approximately 217,152 residents with a median household income of $72,430, which is approximately 26% higher than the national average. Cost Basis - This offering provides an investor the opportunity to enter the desirable southern California market at a significant discount to replacement cost.