**North Palisade Sells Tesla-Leased Irvine Industrial Property for $21M**
SRS Real Estate Partners has completed the $21 million sale of a 35,616-square-foot industrial property in Irvine, California, fully leased to Tesla Collision Center. Located at 18011 Mitchell South, the facility is currently under a 10-year, corporate-guaranteed triple net lease with Tesla, Inc., which also includes multiple options to extend.
The transaction was led by Pat Weibel, Senior Vice President of SRS Capital Markets, representing the seller, North Palisade Partners. Mac Mace and Rob Rader of Topside Real Estate, who previously handled leasing for the property, also provided advisory support during the sale. The buyer, a private investor based in Southern California, was represented by Pat Lacey of Costa Mesa-based Tidemark Real Estate.
“We received national and international buyer interest from every active investor class, including institutional, private high-net-worth family offices, 1031 exchange groups, and even non-traditional real estate investors from the automotive and green energy sectors who were looking at alternative investments,” said Weibel.
The deal underscores high investor demand for well-located, single-tenant assets occupied by nationally recognized tenants in growth industries.
