Andy Burke And Matt Mexia Acquire 38 Acres Of Land In Irvine For $174.2M

FivePoint Holdings has sold two commercial land parcels in Irvine's Great Park Neighborhoods for $174.2 million. Tishman Speyer acquired a 31.9-acre site for $145.9 million, planning to develop four industrial facilities. Dermody Properties bought a 5.9-acre parcel for $28.3 million, intending to build a 133,000-square-foot logistics facility.

Summary of transaction details

• Property Type: Land
• Transaction Amount: $174,200,000
• Address: N/A
• Market: Irvine
• Buyer: Andy Burke - Tishman Speyer; Matt Mexia - Dermody Properties
• Seller: Dan Hedigan - FivePoint Holdings

Tishman Speyer, represented by Andy Burke of Tishman Speyer, and Dermody Properties, represented by Matt Mexia, completed the transactions. The acquisition of the 31.9-acre site by Tishman Speyer will pave the way for the development of four industrial facilities. Dermody Properties, on the other hand, acquired a 5.9-acre parcel for the construction of a 133,000-square-foot logistics facility.