CBRE Pre-Leases 91,600-SF LogistiCenter® at Irvine II to Hyundai America Technical Center, Inc.

CBRE announced that it has pre-leased LogistiCenter® at Irvine II, a 91,600-square-foot, Class A distribution facility in Irvine, Calif., to Hyundai America Technical Center, Inc.

Ross Bourne, Keith Black and Nick Spatafore of CBRE represented the landlord and developer, Dermody Properties, in the transaction.

Located at 2 Sterling in Irvine, the state-of-the-art industrial facility, set to deliver this quarter, spans 4.4 acres. It features 8,200 square feet of office-mezzanine space, 36-foot clear height, efficient column spacing (56 feet by 50 feet), 11 dock-high doors, one ground-level door, 74 parking stalls, and a concrete truck court. The property also has an advanced ESFR fire sprinkler system and LEED certification in progress.

The property is near Interstate 5 (I-5) and I-405, providing connectivity throughout both Orange and Los Angeles Counties. Additionally, the property is near major airports, such as John Wayne Airport and Los Angeles International Airport, as well as major ports, including the Port of Long Beach and the Port of Los Angeles.

"The leasing activity at LogistiCenter® at Irvine II is indicative of the strong demand for modern industrial facilities in prime locations," said Ross Bourne, executive vice president at CBRE. "Hyundai America Technical Center, Inc.'s commitment to this property highlights the strategic advantages offered by Dermody Properties' development."

The Irvine Spectrum industrial market continues to experience robust demand, with vacancy rates remaining tight at 0.7% at the end of 2024, according to CBRE research.

Dermody Properties, a diversified private management company focused exclusively on the national logistics real estate sector, is also constructing the adjacent LogistiCenter® at Irvine I, a 133,320-square-foot freestanding industrial building set to deliver later this year.