An institutional-quality industrial asset in the Tustin Legacy District has changed hands in a sale-leaseback transaction arranged by Voit Real Estate Services. The property, located at 2692 Dow Ave., traded for $22,250,000, with the seller committing to remain in occupancy under a long-term lease structure.
Voit’s Anaheim office led the disposition efforts, with executive vice president and partner Peter Castleton representing the seller, Bob Istwan. Istwan is the CEO of Motive Energy, a nationally recognized provider of advanced energy and connectivity technologies. Castleton described the transaction as a highly strategic sale-leaseback that balanced the seller’s need for long-term operational continuity with a stabilized, institutional-caliber investment profile for the buyer.
The single-building asset totals 55,022 square feet and is characterized as a trophy industrial facility within the Tustin Legacy District. It has benefited from more than $3 million in capital improvements tailored to support high-performance operations, engineering functions, and technological development activity. According to Voit, these enhancements position the property to accommodate specialized industrial and technology-driven use cases.
Inside the building, approximately 25,000 square feet is configured as headquarters-quality office space, supporting Motive Energy’s corporate and engineering teams. The balance of nearly 30,000 square feet is dedicated to warehouse space, designed to facilitate distribution, production support, or other industrial functions. The warehouse component includes five loading doors, enhancing the property’s logistical capabilities and flexibility for ongoing operations.
On the buy side, the transaction attracted local private capital. The purchaser, Deercreek Yorba Linda LLC, acquired the property as a long-term investment, backed by the stable occupancy commitment embedded in the sale-leaseback. Representation for the buyer was provided by senior members of the Zehner Hill Industrial Group from Voit’s Irvine office, including Adam Hill, Mitch Zehner and Michael Zehner.
The combination of recent capital improvements, a headquarters-level office buildout, and functional warehouse infrastructure underscores the asset’s positioning as a high-quality industrial holding within the Tustin Legacy District. With Motive Energy’s continued presence at the property under a long-term occupancy structure, the buyer secured both a stabilized income stream and exposure to a specialized industrial user focused on advanced energy and connectivity technologies.
For both parties, the sale-leaseback structure allowed the operating company to unlock capital from real estate while preserving its operational footprint, and provided the investor with a fully improved, institutionally positioned industrial asset anchored by an existing, technology-oriented user.
