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Land

2400 Barranca

Irvine, CA

Investment Highlights

  • The City of Irvine will imminently approve their 2045 General Plan Update which will incentivize the addition of 15,000 new housing units in the immediate area surrounding 2400 Barranca.
  • 2400 Barranca's 4.95 acres & 5.1 IBC Multi-Use zoning allows for ~105,000 SF of by-right Class "A" industrial development and doesn't require a City vote as the site is <10 acres of developable land
  • The Site is located within the IBC which is both a focus area within the City's 2045 General Plan for adding 15,000 new housing units by 2029 and the location for many of Irvine's jobs
  • The Site is surrounded by some of the largest and best shopping centers in the region including The District at Tustin (featuring Whole Foods, AMC Theaters, IN-N-Out directly across the street), South Coast Plaza, Fashion Island, and Irvine Spectrum Center.
  • Over 2 million jobs are accessible within a 30-minute commute of 2400 Barranca and more than a third of Fortune 500 companies maintain an office presence in Irvine which result in a diverse economic base.
  • Irvine's multifamily market is projected to remain strong with 3.66% submarket vacancy and 3.20% year-over-year rent growth projected over the next 5 years.
  • The existing improvements consist of 44,867 SF of two-story office originally built in 1974.  Two of the three tenancies will be terminated upon the sale of the Site.  Landlord has a lease termination option for the remaining tenant upon initiating redevelopment.

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