TUSTIN, CA—Harbor Associates has acquired Tustin Commons, a 210,875 square foot, three building, office and flex portfolio in a joint venture with Stockbridge Capital Group.
Harbor sourced the asset in an off-market transaction by capitalizing on its local knowledge that the previous tenant was vacating the entire campus in Q2 2016 and was able to secure a 20,000 square foot, multi-billion-dollar tenant in tow during escrow.
Harbor also owns the 40,000 square foot Bespoke Tustin property across the street from Tustin Commons. The portfolio marks the fifth value-add office acquisition for Harbor in the last fourteen months and expands the firm's existing footprint in Orange County. John Collins and Gary McArdell of Lee & Associates Newport Beach represented the buyer and seller in the transaction. Greg Brown, John Chun and Jamie Kline of HFF arranged the financing for the project.
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