REBusinessOnline

NKF Brokers $16.8M Sale of Creative Office Building in Tustin, California

2642-Michelle-Dr-Create-Tustin-CA

Avid Bioservices, Advantage Sales & Marketing and GPA Consulting are tenants at 2642 Michelle Drive at Create Tustin, a 50,832-square-foot office building in Tustin, Calif.

TUSTIN, CALIF. — Newmark Knight Frank (NKF) has brokered the sale of 2642 Michelle Drive at Create Tustin, a creative office building located in Tustin. A joint venture between Harbor Associates and Stockbridge sold the asset to Excelsior Partners for $16.8 million.

At the time of sale, the 50,832-square-foot property was fully leased to Avid Bioservices (formerly Peregrine Pharmaceuticals), Advantage Sales & Marketing and GPA Consultants. Built in 1980 and renovated in 2017, the two-story building is situated on 2.8 acres within the Irvine Business Complex. The asset features efficient rectangular floorplates, contemporary interior finishes and modern creative office build-outs, as well as approximately 200 parking spaces.

Sean Fulp, Ryan Plummer, Mark Schuessler, Paul Jones, Blake Bokosky and Brandon White of NKF represented the seller, while the buyer was self-represented in the transaction.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Updated daily:
How Will COVID-19 Impact the Commercial Real Estate Industry?
Click here.

COVID-19 Webinars: Learn more about the CRE industry's response to the coronavirus. Sign up.

Watch On Demand:

Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties