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1100 Valencia Avenue

Updated May 4, 2026

Palmer Luckey Of Anduril Industries Leases 177,766 SF Industrial Space From Douglas Kiersey Jr. In Tustin
LEASEDIndustrial

Palmer Luckey Of Anduril Industries Leases 177,766 SF Industrial Space From Douglas Kiersey Jr. In Tustin

1100 Valencia Avenue

Building Size

177,766 SF

Asset Type

Industrial

Closing

Apr 29, 2026

About this deal

AI

The property asset involved in the transaction is an industrial space located at 1100 Valencia Avenue in Tustin, encompassing a total area of 177,766 square feet. The market for this asset is Tustin, with asking rents estimated at around $1.34 per square foot.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Undisclosed
  • Landlord: Douglas Kiersey Jr. - Dermody Properties
  • Tenant: Palmer Luckey - Anduril Industries
  • Market: Tustin

In this transaction, Douglas Kiersey Jr. represents Dermody Properties as the landlord, while Palmer Luckey represents Anduril Industries as the tenant. This lease agreement allows Anduril Industries to expand its Orange County operational footprint to nearly 1.5 million square feet. The company's growth trajectory includes a planned 1.2 million-square-foot campus in Long Beach and a manufacturing facility spanning 5 million square feet in Columbus, Ohio.

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Players

Douglas Kiersey Jr.

Dermody Properties

Landlord

$510M

vol

11 deals

Landlord

Palmer Luckey

Anduril Industries

Tenant

11 deals

Tenant
Bilt advertisement

Tustin Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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