ORANGE COUNTY, CALIF. — Lincoln Property Co. and Alcion Ventures have broken ground on Phase I of FLIGHT at Tustin Legacy, a 38-acre creative office campus located within the master-planned community of Tustin Legacy in Orange County.
ACORE Capital and iStar Inc. recently provided the joint venture with $141.6 million in construction financing for the initial phase of the development. Mark Wintner and Doug Bond of HFF secured the three-year loan on behalf of the borrowers.
The mixed-use campus, at completion, will include 18 low-rise office buildings, retail and open space for gathering. The first phase of the development will offer 470,000 square feet of office space including a collection of four custom-built, incubator-style buildings dubbed Platform Campus, a 12,000-square-foot food hall and a 7,000-square-foot conference center.
Campus amenities will include outdoor meeting spaces and flexible break-out rooms; indoor and outdoor fitness areas; a bike share program; dog walk and walking trails; and electric vehicle charging stations.
The 12-vendor food hall, known as Mess Hall Market, will serve breakfast, lunch and dinner and offer a full-service bar. Anchor tenants for the space will be announced this fall, with the completion of Phase I slated for late 2018.
The project is the first office development within the 1,600-acre Tustin Legacy community, which is located on the site of the former Marine Corps Air Station Tustin.
Rios Clementi Hale Studios is responsible for the architecture, landscape, interior design and urban planning for FLIGHT. Jeff Pion, David Dowd, Matt Didier and Jennifer Whittington of CBRE will serve as office listing agents.
Lincoln Property Co. is a real estate investor, developer and manager. The company has offices in major markets throughout the United States and Europe.
Boston-based Alcion Ventures is a real estate investment manager that invests on behalf of major institutional investors including public and private pensions, endowments and foundations, and high-net-worth individuals.
— Katie Sloan