The property asset involved in the transaction is a 91,600-square-foot Class A industrial distribution facility located at 2 Sterling in the Irvine market. The lease was executed by Hyundai America Technical Center, Inc., securing a location that features advanced amenities and is strategically positioned near major highways and airports.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: N/A
• Address: 2 Sterling
• Market: Irvine
• Landlord: Douglas A. Kiersey, Jr. - Dermody Properties
• Tenant: John Robb - Hyundai America Technical Center, Inc
• Brokers: Keith Black, Ross Bourne & Nick Spatafore - CBRE
• Vacancy Rate: 0.7% in Irvine Spectrum industrial market

Key individuals involved in the deal include Douglas A. Kiersey, Jr. representing Dermody Properties as the landlord, and John Robb representing Hyundai America Technical Center, Inc. as the tenant. CBRE acted as the brokerage firm managing the lease, with Keith Black, Ross Bourne, and Nick Spatafore as the respective brokers overseeing the transaction.