Tustin, CA - Office Market Overview
Tustin neighbors the Cypress, Fullerton, and Orange City commercial real estate markets. With a population of just over 80,000, Tustin is immediately adjacent to the City of Santa Ana, which is home to more than 3.1 million people, and is also part of the Greater Los Angeles metro area, which boasts over 13 million residents.
As of mid-2017, the Tustin office market counts nearly 1.5 million square feet of office space in buildings larger than 50,000 square feet. The commercial real estate market in Tustin, CA, sees robust demand from a variety of businesses and industries due to its strategic location within the major metropolitan regions of Orange County, California.
Tustin, CA - Office Inventory Description
Tustin was recently ranked by Forbes Magazine as one of the top 25 towns in America in which to live well, due to the city's short commuting times to other parts of Southern California and to the abundance of business start-ups and sole proprietorships in Tustin. Because of this type of demand, there is a wide variety of office inventory in Tustin. There is just over 1.2 million square feet of Class B office space in Tustin, while Class A or A+ office space adds nearly 260,000 square feet more to the Tustin office inventory.
Some of the many notable larger office buildings in Tustin include the Centurion Plaza - 15621 & 15661 Red Hill Avenue, the Warner Corporate Park at 1371 Warner Avenue, and the Tustin Financial Plaza - Center Building.
Tustin, CA - Green Office Space
The 2017 National Green Building Adoption Index researched the top 30 largest office markets in the country. This report noted that in 2005 the average percentage of green certified, LEED-certified or EPA Energy Star-rated office space in these top markets was less than 5%. Over a 12-year period, to mid-2017, that percentage has grown nearly seven-fold, to an average of 38% across the top 30 markets. Interestingly, California is home to six of the top 30 green office markets in the U.S.
Tustin isn't large enough to qualify as a top 30 office market in itself. However, one excellent example of a LEED-certified office building is the Tustin Executive Center on East 17th Street. Built back in 1982, this Class B office building contributes over 90,000 square feet of LEED Gold-certified space to the green office market in Tustin, Calif.
Tustin, CA's Top Office-Using Sectors
The Tustin office market sees steady, predictable demand from top office-using sectors like the technology, healthcare, government & education segments, along with a variety of large corporate office tenants in Tustin, Calif.
- Technology – Toshiba, Balboa Water Group, and Kleen Impressions are some of the biggest white-collar office employers in Tustin.
- Healthcare – Institutions such as Tustin Hospital and MicroVention help to create demand for white-collar office space in Tustin.
- Government & Education – Organizations such as the City of Tustin and the Tustin Unified School District, along with the many smaller businesses that they attract, help drive demand for commercial real estate in Tustin.
- Corporate Office – Large corporate office users in Tustin include Rockwell Collins, Safmarine, GE Power Electronics, and Warner Systems.
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
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News
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 Propert...