June 10, 2019 Comments Off on SteelWave Buys Renovated Creative Office in Tustin Views: 447 California News, Orange County

SteelWave Buys Renovated Creative Office in Tustin

SteelWave acquired AIRspace, a 103,000-square-foot, high-identity, creative office asset located in Tustin, CA  from Bixby Land Co. for a reported $23.5 million. Located at 15771 Red Hill, the property is positioned within the Greater Airport Area submarket in the burgeoning Red Hill Corridor.

During the due diligence process, SteelWave signed a 78,000-square-foot lease with Tricon American Homes. The landlord is also negotiating leases with a retail tenant for the remainder of the project, which will include a 15,000-square-foot distillery and tasting room, and a 3,000-square-foot coffee roaster and café.

The recently-renovated project received more than $5 million in improvements, including new punched-in windows/skylights, HVAC units, lobby and exterior renovations, landscaping enhancements, a 16,000-square-foot exposed steel-frame structured mezzanine and overhead doors, which open to a 3,000-square-foot outdoor amenity area.

HFF’s Pat Burger, John Marshall and Olga Walsh placed the acquisition and renovation loan with a bank on behalf of the buyer.

Connect With SteelWave

Connect With Bixby Land Co.

Connect With HFF’s Burger


Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.

Send this to a friend