New American Adds Tustin Creative Office to Holdings
By Mark Mueller | Monday, January 22, 2018
Fast-growing mortgage lender New American Funding has bought a creative-office campus down the street from its Tustin headquarters.
The privately held firm, which is reported to employ more than 800 people in Orange County, recently completed the purchase of Radius, a multitenant property at 14191 Myford Road near the intersection of Jamboree Road and the Santa Ana (5) Freeway.
The property, which is about 75% leased and located on 6.2 acres, sold for $22.5 million, or about $205 per square foot, according to CoStar Group, Inc. records.
The nearly 110,000-square-foot building was sold by Irvine-based real estate investor and developer CapRock Partners, which paid a reported $14.8 million for it in 2014 and renovated part of the site in one of the area’s larger creative-office redevelopments …
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