The industrial property located at 18011 Mitchell South in Irvine encompasses 35,500 square feet and is situated on 2.44 acres. The sale price for this asset was $21,000,000, amounting to a price per square foot of $592. The property is leased to Tesla under a 10-year NNN lease.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $21,000,000
• Address: 18011 Mitchell South
• Market: Irvine
• Acres: 2.44
• Square Footage: 35,500
• Price per Square Foot: $592
• Seller: Joe Mishurda - North Palisade Partners
• Buyer's Representative: Pat Lacey - Tidemark Real Estate Services
• Seller's Representatives: Patrick Weibel - SRS Real Estate Partners; Mac Mace & Rob Rader - Topside Real Estate
• Cap Rate: 5.5%

This transaction was facilitated by key representatives including Pat Lacey of Tidemark Real Estate Services, who represented the buyer, and a team from SRS Real Estate Partners and Topside Real Estate, which represented the seller. The deal highlights the strong leasing arrangement with Tesla, contributing to the investment appeal.