SRS Real Estate Partners closed the $21-million sale of a 35,616-square-foot industrial property fully occupied by Tesla Collision Center located at 18011 Mitchell South in Irvine Tesla, Inc. has a 10-year, corporate-guaranteed triple net lease in place with options to extend.
The transaction was led by SRS Capital Markets SVP Pat Weibel on behalf of the seller, North Palisade Partners. Mac Mace and Rob Rader of Topside Real Estate, who handled leasing for the seller, also advised on the sale with Weibel. The buyer, a Southern California-based private investor, was represented by Pat Lacey of Costa Mesa-based Tidemark Real Estate.
“We received national and international buyer interest from every active investor class, including institutional, private high net worth family offices, 1031 exchange groups, and even non-traditional real estate investors within the automotive and green energy spaces, that were looking at alternative investments,” said Weibel.
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