**Tesla-Leased Industrial Property in Irvine Sells for $21 Million**
SRS Real Estate Partners has announced the sale of a 35,616-square-foot industrial property in Irvine, California, for $21 million. The facility, located at 18011 Mitchell South, is fully occupied by a Tesla Collision Center under a 10-year corporate-guaranteed triple net lease, with options to extend.
The deal was brokered by Pat Weibel, Senior Vice President of SRS Capital Markets, representing the seller, North Palisade Partners. Weibel was joined in the transaction by Mac Mace and Rob Rader of Topside Real Estate, who also handled the leasing for the seller. 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 investors, private high-net-worth family offices, 1031 exchange groups, and even non-traditional real estate investors within the automotive and green energy sectors seeking alternative investment opportunities,” said Weibel.
The property’s long-term lease with Tesla and its strategic location in the Irvine industrial market contributed to high levels of investor interest and a competitive sale process.
