Steve Poulos Of Kurv Industrial Acquires 348,000 SF Mixed-Use Asset In Irvine From LBA Logistics For $67.5M

A 348,000-square-foot mixed-use property, located at 9750 Irvine Boulevard in Irvine, has been sold. The asset was acquired by Kurv Industrial from LBA Logistics, and the deal was financed with a $67.5 million loan from PGIM Real Estate Finance. The estimated implied pricing for the transaction ranges between $104 million and $123 million based on typical leverage.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Estimated between $104 million and $123 million
• Buyer: Steve Poulos - Kurv Industrial
• Seller: LBA Logistics
• Lender: PGIM Real Estate Finance

This acquisition allows Kurv Industrial to expand its presence in the Irvine Spectrum area, joining other notable tenants such as Rivian. This deal occurs amid rising industrial vacancy rates and softening rents in the broader Orange County market.