By Jon Peterson
Link Logistics now has a fully leased property under construction in Tustin located at 14451 Myford Road after signing up Rivian Automotive to lease the entire building, according to sources that are familiar with what is happening with the project.
Link would not comment on how long the lease is on the 219,827 square foot property or any other financial information on the asset. The investment firm has been the owner of the parcel since 2019 when it made an acquisition in a partnership with Panattoni Development. The site totals 9.9 acres.
The building is less than a mile from the Tustin Commuter Rail Metrolink station and just six miles to the Santa Ana Commuter Rail Metrolink station. John Wayne Airport is about a 12-minute drive, while the Port of Long Beach is around 26 miles away, according to Loopnet.
The property is now under construction and it is projected to be completed by the end of this month. Rivian will be the only tenant in the property. This company is based in Irvine and now has around 700,000 square feet of real estate located in Orange County.
When Link and Panattoni purchased the property, they made the decision to demolish the existing buildings and build a new project from the ground up. The property does not have a formal name at this time. The facility is a cross-dock building on a large site, which is a rare combination for industrial properties located in Orange County. This property also has dock levers, LED lights with motion centers and skylights. Most buildings of this type in the area feature a panelized roof structure.
When the new development was started, Link and Panattoni chose the Cushman & Wakefield office in Irvine to be the leasing agent on the project. Those who were involved in the lease transaction were Rick Ellison, Randy Ellison and Kyle McGillen. Around four percent of the space in the property is set aside for office uses. This space covers two stories and totals around 8,948 square feet. The building will also have a parking operation with 111 parking stalls.
The property at 14451 Myford Road is considered to have a 15-mile radius of activity. The household income within a 10-mile radius is $137,834, and the population that lives within 15 miles of the site totals over 2.8 million people. The marketing brochure shows that two other Rivian properties are in the vicinity of this location, and other neighboring tenants include KIA, O’Neill, Avid Bioservices, Kaiser Permanent and Canon to name a few. The property overall is in a strong industrial region, next to office and housing properties.
Link Logistics is no stranger to Orange County. The company currently holds a portfolio that totals six million square feet in this geography. That figure includes the development projects that the company is pursuing.