Stockbridge partnership sells single-tenant GSA building in SoCal

A joint venture between Stockbridge, on behalf of a separate managed account, and Harbor Associates, has sold 14101 Myford Road, a 66,818-square-foot, single-tenant office building in Tustin, Calif.

A public GSA REIT purchased the property for $36.2 million, which translated to $542 per square foot.

Recently renovated in 2019, 1401 Myford Road is a two-story, LEED certified building that is fully leased to the General Services Administration (GSA)/U.S. Citizenship and Immigration Services, a division of the U.S. Department of Homeland Security. The property is positioned on a 4.6-acre site near the intersection of Interstate 5 and Route 261, which provides connectivity to the neighboring areas of Orange County, Los Angeles and the Inland Empire. The amenity-rich location boasts more than 9 million square feet of retail space within a three-mile radius. Additionally, 14101 Myford Road is close to Tustin Legacy, Orange County’s most active master-planned development, comprising 1,600 acres with development under way for 6,800 residential units, lifestyle and community retail, creative office space, schools, community centers, parks, and walking trails.