Hines Acquires Office Building At 14351 Myford Road In Tustin For $37.82M From Link Logistics

The property asset involved in the transaction is an office space located at 14351 Myford Road in Tustin, CA. It encompasses a total area of 147,218 square feet and was purchased for $37,820,000, translating to a price per square foot of approximately $257. This acquisition adds to Hines’ presence in the Myford Road corridor, where there is a trend of converting older office properties into industrial spaces.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $37,820,000
• Buyer: Laura Hines-Pierce & Jeffrey C. Hines - Hines
• Seller: Luke J. Petherbridge - Link Logistics Real Estate
• Square Footage: 147,218
• Price per Square Foot: $257

This transaction involves key individuals including Laura Hines-Pierce and Jeffrey C. Hines, who represent Hines, while Luke J. Petherbridge stands as the representative for Link Logistics Real Estate in this deal. The acquisition reinforces Hines’ strategic positioning in a market undergoing significant transitions in property usage.