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Commercial Real Estate in Tustin, CA - 64 Properties Available

Tustin, CA Economic Overview

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The City of Tustin is located in the central part of Orange County, just 40 miles southeast of Los Angeles and 80 miles north of San Diego. Tustin covers over 11 square miles at the intersection of the 5 and 55 Freeways, adjoining the cities of Orange, Santa Ana, and Irvine. Tustin, also known as the “City of Trees,” is surrounded by much of the County’s main industrial employment, but is known for being featured in the top 10% ranking in startups and sole proprietors per capita. Because of its short commute and proximity in Southern California, Tustin was also chosen by Forbes as one of the top 25 towns to live well in America in 2009. Tustin is home to over 82,700 residents and continues to grow at approximately 2% each year. The combination of economic opportunity, quality of education, ample housing, safe environment, and entertainment options continues to lead Tustin’s reputation as being one of the best places in the state, in which to live and do business. The City has also been recognized consistently as one of the least expensive cities to do business in California by the Kosmont- Rose Institute Survey.

Tustin, CA Commercial Real Estate Market

Tustin commercial real estate is plentiful and situated near quick and easy access to major entertainment and education centers inside and outside of the City and accommodates nearly 9,100 companies throughout the area.

The economic base of Tustin is founded on professional and management services, with over 20.0% of local employment in the Professional sector. Other large sectors that contribute to the City’s economy include education, retail, and leisure. Tustin boasts an active retail scene with The Market Place and the Enderle Center, both of which continue to draw in visitors and residents to explore, discover, and spend in the local economy. The City has recently approved a redevelopment of park land in the large, mixed-use Tustin Legacy complex that promises to bring even more high-tech business activity to the area. Currently, the City’s largest employers include the Tustin Unified School District, New American Funding, Rockwell Collins, Inc., Ricoh Electronics, Inc., and Costco. The Tustin economy has seen a dramatic rise in household incomes, increasing by $18,917 from 2000 to 2016, now at $74,936.

Tustin is a city of diverse neighborhoods and commercial districts. From Old Town, which strongly relates to the city’s historical heritage, to Tustin Ranch, a high-quality master-planned community, Tustin’s existing neighborhoods have a unique and rich character contributing to the livability and dynamic life of the City. The City is currently redeveloping “Tustin Legacy,” providing a new activity center to serve as an anchor for the southernmost sector of the City.

The Orange County office market continues to record positive absorption rates over six consecutive years as the local economy continues its strong job growth. The Tustin office market offers a total 1.4 million square feet of office space, with a total vacancy rate of 24.4%—the highest in Orange County. Tustin is currently experiencing an increase in rental rates, but is relatively cheaper than the Metropolitan Los Angeles market.

Tustin Legacy will provide for the expansion of major office and light industrial business park uses to the south and southwest, providing an engaging place to live, work, learn, and play that complements and support adjacent districts. The Tustin Legacy development will encompass over 9 million square feet of commercial and institutional development. The centerpiece of Tustin Legacy is its Master Developer Concept, approximately 700 acres of property, including 3.4 square feet of R&D, industrial and office, with another 500,000 square feet dedicated to retail use. Roughly 68 acres of this property will be developed for Advanced Technology and Education Park (ATEP), a model 21 st century education environment and direct link between students and high-tech business.

Tustin, CA Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Tustin, CA Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Tustin, CA Commercial Inventory Breakdown

Office Spaces

Total: 2,321,275 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 1,482,280 SF / 63.86% of total office
  • 100k to 500k SF: 838,995 SF / 36.14% of total office

By class:

  • Class A: 789,809 SF / 34.02% of total office
  • Class B: 1,351,466 SF / 58.22% of total office

Industrial

Total: 2,239,862 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 93,039 SF / 4.15% of total industrial
  • 100k to 500k SF: 2,146,823 SF / 95.85% of total industrial

By class:

  • Class A: 1,178,907 SF / 52.63% of total industrial
  • Class B: 1,060,955 SF / 47.37% of total industrial

Office Spaces with Retail

Total: 516,156 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 100k to 500k SF: 516,156 SF / 100% of total office with retail

Employment in Tustin, CA

Employment

Orange County has higher employment concentration than the national average in 14 out of 19 high-tech industries, tying it for the 2 nd -most diverse high-tech economy in the nation. In Tustin, the highest employment industries include Professional (31.1%), Retail (15.7%), Education (11.6%), Manufacturing (10.6%), and Leisure (9.9%). In 2015, the total jobs in the City numbered 42,398, an increase from 38,730 in 2010. The largest increase in jobs has been in Education, with an increase from 10.2% in 2007 to 15.6% in 2015 of total Tustin employment. In 2015, the employment sector providing the highest salary per job was Information ($87,964). Tustin also boasts an impressively low unemployment rate of 3.1%, compared to neighboring Santa Ana at 3.8% and Irvine at 2.4%.

According to the Bureau of Labor Statistics, the industries in the Orange County, Calif., area with the highest employment numbers include:

  • Professional and Business Services—currently employs 300,900, growing at 2.8% per year
  • Trade, Transport, and Utilities—currently employs 258,500, growing at 0.4% per year
  • Leisure and Hospitalist—currently employs 218,600, growing at 1.5% per year

Education in Tustin, CA

Orange County has higher employment concentration than the national average in 14 out of 19 high-tech industries, tying it for the 2 nd -most diverse high-tech economy in the nation. In Tustin, the highest employment industries include Professional (31.1%), Retail (15.7%), Education (11.6%), Manufacturing (10.6%), and Leisure (9.9%). In 2015, the total jobs in the City numbered 42,398, an increase from 38,730 in 2010. The largest increase in jobs has been in Education, with an increase from 10.2% in 2007 to 15.6% in 2015 of total Tustin employment. In 2015, the employment sector providing the highest salary per job was Information ($87,964). Tustin also boasts an impressively low unemployment rate of 3.1%, compared to neighboring Santa Ana at 3.8% and Irvine at 2.4%.

According to the Bureau of Labor Statistics, the industries in the Orange County, Calif., area with the highest employment numbers include:

  • Professional and Business Services—currently employs 300,900, growing at 2.8% per year
  • Trade, Transport, and Utilities—currently employs 258,500, growing at 0.4% per year
  • Leisure and Hospitalist—currently employs 218,600, growing at 1.5% per year

Commuting Time in Tustin, CA

Tustin is easily accessible by air, rail, and road. The City of Tustin has made it easy and convenient to travel to its outstanding entertainment options located within the city, as well as other major entertainment centers in Orange County.

  • Access to the city from surrounding cities is provided by Interstate 5 and 405, State Routes 55, 133, 261, 73, and 241;
  • The Tustin Metrolink station is minutes from anywhere whithin the city limits. Daily Metrolink service is available at the station, with connections to Amtrak Pacific Surfliner stations, as well. The station is serviced by OCTA bus routes 70, 90, 472 and 473;
  • John Wayne Airport, Orange County (SNA) is the only commercial service airport in Orange County. It is owned and operated by the County of Orange.

Employees in Tustin have an average commute time of 23.1 minutes, which is slightly shorter than the national average of 24.8 minutes. The largest share of workers drive alone followed by those who carpool and those who work at home.

Tustin Demographics

Population

  • Total Population80,007
  • Male Population(48.9 %) 39,093
  • Female Population(51.1 %) 40,914
  • Median Age34.60

Income/Financial

  • Average Household Income$101,986
  • Median Household Income$73,567
  • Median Income Under 25$27,614
  • Median Income 25-44$80,246
  • Median Income 45-64$81,352
  • Median Income Over 65$49,956

News

Executive summary: Lease Prices in Trophy LA Properties Overtake Class A Prices Orange County Quarterly Office Sales Top $524M, a High for the Year A Total of 26 Office Projects are Set to Deliver More Than 2.2M Square Feet Across Both Markets   In Q3, the office markets of Los Angeles and Orang...

  HFF has secured $141.6 million in financing for Phase I of FLIGHT at Tustin Legacy, Orange County’s first purpose-built creative office campus. The firm placed the three-year construction loan with ACORE Capital and iStar Inc., working on behalf of project developers Lincoln Property Co. and A...

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