By Razvan Cimpean
Harbor Associates acquired Tustin Corporate Center, a 43,517-square-foot office building in Tustin, Calif. from The Bascom Group. The company acquired the property through a distressed online auction bid process from an out of state special service.
Located at 18302 Irvine Blvd., the property is within walking distance of Old Town Tustin. The asset also offers easy access to various dining and shopping options, including Don Jose Mexican Café, Coco’s Bakery and Larwin Square.
Harbor plans to reposition Tustin Corporate through a rebranding and renovation program. The process will include exterior cosmetic renovations, lobbies and restrooms upgrades, as well as new creative office spec suites.
“Tustin Corporate represents our eighth value-add office acquisition in the last two years in Southern California and expands our Orange County portfolio to seven buildings totaling 367,000 square feet,” Paul Miszkowicz, principal for Harbor, said in a prepared statement.
The deal comes less than a month after Harbor formed a joint venture with Stockbridge Capital Group to acquire a 33,000-square-foot Century City office building.
Image courtesy of Harbor Associates