TUSTIN, CALIF. — CapRock Partners LLC has acquired a 110,000-square-foot, high-image industrial/R&D building in Tustin for an undisclosed sum. The building includes a second story, which features 10,000 square feet of office space.
The asset is located at 14191 Myford Road. It resides within the Jamboree/5 Freeway and 261 Toll Road corridor, near Tustin Legacy and Tustin Marketplace.
The building is home to one tenant, which occupies 40 percent of the space. The remaining 69,000 square feet will be converted into creative office space.
CapRock will invest more than $1 million in this conversion to create a modern, open office layout. The funds will also be used for additional improvements, including collaborative outdoor work areas and outdoor entertainment amenities. Improvements are scheduled to commence this fall.
The building recently underwent additional renovations, including the installation of a new façade with an expansive glass curtain wall, resurfaced entry parking lot, attractive landscaping and a seismic retrofit.
The transaction was executed by Scott Read of Newmark Knight Grubb Frank. Read will also lead CapRock’s marketing efforts.