MEETING DATE: SEPTEMBER 1, 2026
TO: ALDO E. SCHINDLER, CITY MANAGER
FROM: BRIAN MONCRIEF, DEPUTY CITY MANAGER – REAL PROPERTY SUBJECT: RECOMMENDATION OF PROPOSALS TO PROCEED TO ROUND TWO FOR THE COMPETITIVE OFFERING FOR ±44 ACRES OF
CITY-OWNED REAL PROPERTY WITHIN NEIGHBORHOODS D
AND E (PLANNING AREAS 9-12; 13-14) OF THE TUSTIN LEGACY
SPECIFIC PLAN
SUMMARY:
Seven (7) proposals are recommended for City Council consideration to proceed to Round Two for the competitive offering for ±44 acres of City-owned real property within Neighborhoods D and E (Planning Areas 9-12; 13-14) of the Tustin Legacy Specific Plan.
The recommendation is made by a staff supported, Mayor appointed Ad-Hoc Committee composed of Mayor Austin Lumbard and Council Member Ryan Gallagher.
RECOMMENDATION:
It is recommended that the City Council take the following actions:
1. Authorize staff and the City’s broker, Cushman & Wakefield, to inform seven (7) proposers from the competitive offering for ± 44 acres of City-owned real property within Neighborhood D and E (Planning Areas 9-12; 13-14) of the Tustin Legacy Specific Plan that they will be proceeding to Round Two; and
2. Authorize staff to further reduce the number of proposals that will ultimately be recommended to the City Council for consideration at a future date.
FISCAL IMPACT:
There is no fiscal impact associated with this item.
CORRELATION TO THE STRATEGIC PLAN:
The recommendation of proposals to proceed to Round Two contributes to the fulfillment of the City’s Strategic Plan Goal A: Economic and Neighborhood Development.
AGENDA REPORT
Agenda Item _______
Reviewed:
City Manager _______
Finance Director _______
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B 9 N/A
Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D City Council Agenda Report
Recommendation of Proposals to Proceed to Round Two
September 1, 2026
Specifically, this item implements Strategy 1, which is to develop critical phases of Tustin Legacy.
BACKGROUND AND DISCUSSION:
The City Council authorized staff to release a competitive offering for ±44 acres of City-owned real property in Neighborhood E (Planning Areas 9-12) and Neighborhood D South (Planning Areas 13-14) of the Tustin Legacy Specific Plan (“TLSP”) through the following series of approvals:
• May 20, 2025 - City Council authorized staff to release a competitive offering for ±21 acres of City-owned real property within Neighborhood E (Planning Areas 9-12). • July 15, 2025 - City Council approved a Listing Agreement with Cushman & Wakefield (“Broker”) to market the ±21 acre site.
• August 5, 2025 - City Council authorized staff to release a competitive offering for ±24 acres of vacant land within Neighborhood D South (Planning Areas 13-14) of the TLSP.
• February 17, 2026 - City Council approved an amendment to the Listing Agreement with the Broker to market and advertise the Neighborhood E and Neighborhood D South sites together as a single offering comprising ±44 acres (“Site”).
On May 20, 2026, the Broker released an Offering Memorandum (“OM”) advertising the site to the development community. The OM (included as Attachment 1) included a general overview of the Site, the proposed timeline and process for the offering, and submittal requirements. The OM noted that the Site “presents an unparalleled opportunity for the development of a unique, thoughtfully planned and cohesive project within Tustin Legacy. An ideal project will generally align with and build upon the vision and framework established in the Tustin Legacy Specific Plan (“SP-1”), by integrating next-generation office uses designed to attract best-in-class companies with supportive retail/entertainment amenities, residential neighborhoods, and modern public open space elements that foster connectivity and a thriving community-oriented ecosystem. Alternative project concepts that may require discretionary adjustments to zoning, land use mix and product type in response to evolving market conditions and feasibility will also be considered.” A total of twenty-four (24) offers were received by the offer deadline (July 16, 2026), which proposed projects that varied in scope and land use. The proposed responses comprised of the following:
• Seven (7) responses proposed projects that utilize the full site area (±44 acres) with a mixture of retail, office, hospitality, and residential (for-sale and multi-family uses); Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D City Council Agenda Report
Recommendation of Proposals to Proceed to Round Two
September 1, 2026
• The following seventeen (17) responses proposed projects that utilize a portion of the full site area:
o Two (2) office campus developments;
o Five (5) for-sale residential developments;
o Two (2) multi-family residential developments;
o Three (3) affordable housing developments;
o Five (5) other developments comprised of entertainment, religious, retail, hospitality, and health and wellness.
City staff, the Broker, and the Mayor appointed Ad-Hoc Committee composed of Mayor Austin Lumbard and Council Member Ryan Gallagher (Ad-Hoc) met on August 20, 2026, to review all the responses. The Broker identified seven (7) of the twenty-four (24) responses received as being best aligned with the City’s vision for the Site. After receiving feedback from the Broker and City staff, the Ad-Hoc is recommending that seven (7) of those twentyfour (24) responses proceed to Round Two. The seven (7) recommended responses are comprised of four (4) proposed projects that utilize the full site area (±44 acres) and three (3) proposed projects that utilize a portion of the full site area, which include a range of retail, office, hospitality, and residential uses (for sale and multifamily).
The recommended responses to proceed to Round Two represents the next step in the offering process and does not constitute approval or final selection of a developer(s). Once a final selection of a developer(s) is made, purchase price and other material business terms remain subject to further negotiation and subsequent City Council consideration and approval.
The anticipated timeline of the remainder of the offering process for the site is as follows:
- Q3/4 2026 Round Two process
- Q4 2026 City Council: Developer selection
- Q1 2027 City Council: Exclusive Negotiation Agreement (ENA) consideration - Q2 2028 City Council: Disposition and Development Agreement (DDA) and entitlements consideration
_______________________________ _____________________________ Brian Moncrief Carlos Marquez
Deputy City Manager – Real Property Real Property Manager Attachments:
1. Offering Memorandum
2. Offering and Recommendations Summary
For
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
ARMSTRONG AVE
VON KARMAN AVE
PACIFIC OCEAN
IRVINE BUSINESS COMPLEX RED HILL AVE
NEWPORT BEACH
COSTA MESA
IRVINE
BARRANCA PKWY
THE SITE
405 55
BARRANCA & ARMSTRONG A RARE CANVAS
FOR TUSTIN’S NEXT
MIXED-USE DISTRICT
OFFERING MEMORANDUM
± 44 ACRES | COMMERCIAL & RESIDENTIAL DEVELOPMENT OPPORTUNITY
TUSTIN, CALIFORNIA
One of the Last Remaining
Large-Scale Mixed-Use
Opportunities
Positioned Between
Orange County’s Employment Core &
Coastal Lifestyle
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
SALE ADVISORS
Jeffrey Cole
+1 949 955 7652
[email protected]
Lic #00833681
Kristen Schottmiller
Associate
+1 949 930 4364
[email protected]
Lic #02122088
Nico Napolitano
+1 949 955 7642
[email protected]
Lic #01962860
Ted Terry
Financial Analyst
949 500 1218
[email protected]
Lic. #02196729
THE SITE
TABLE OF
CONTENTS
08 OFFERING
GUIDELINES
03 EXECUTIVE
SUMMARY
13 AREA
OVERVIEW
Barranca & Armstrong | Cushman & Wakefield | 2
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
NEWPORT
BEACH
55 405
COSTA MESA
IRVINE
3 | NWC Armstrong & Barranca
1 mi.
TO THE 55
55 405
NEWPORT BEACH
COSTA MESA
IRVINE
Spanning approximately 25 acres, the VKCC site in
Irvine was acquired by a Lennar-backed company
for $9.3 million per acre and is being developed
into a for-sale residential community featuring
townhomes and other attached product types.
BARRANCA PKWY
RED HILL AVE
ARMSTRONG AVEARMSTRONG AVE
VON KARMAN AVEVON
KARMAN
AVE
Barranca & Armstrong | Cushman & Wakefield | 3
The District
Shopping Center
Spanning nearly one million square feet with more
than 80 shops, restaurants, and entertainment
venues—including anchors like Costco, Target,
Whole Foods, and an AMC theater.
A ±52-acre site adjacent to Tustin Legacy Park is being transformed into a mixed-use development featuring an
experiential retail concept alongside for-sale residential product, further advancing the area’s evolution into
a premier live-work-play destination.
THE SITE
BARRANCA & ARMSTRONG,
TUSTIN CA
EXECUTIVE
SUMMARY
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D The Offering
Property Overview
ADDRESS NWC Barranca & Armstrong, Tustin CA
PARCEL 430-461-11, 430-481-07,
430-491-02, 430-501-02
LAND AREA Approximately 44 Gross Acres
ZONING Tustin Legacy Specific Plan (SP-1) (allows for residential, commercial, public/institutional, and open space)
CURRENT PROPERTY CONDITION Raw Land
OWNER City of Tustin
Cushman & Wakefield is pleased to present Barranca
& Armstrong, Tustin CA (“The Site”), a premier 44-acre
development opportunity located within the Tustin
Legacy Specific Plan in Tustin, CA.
The Site presents an unparalleled opportunity for
the development of a unique, thoughtfully planned
and cohesive project within Tustin Legacy. An ideal
project will generally align with and build upon the
vision and framework established in the Tustin Legacy
Specific Plan by integrating next-generation office
uses designed to attract best-in-class companies
with supportive retail/entertainment amenities,
residential neighborhoods, and modern public open
space elements that foster connectivity and a thriving
community-oriented ecosystem.
Alternative project concepts that may require
discretionary adjustments to zoning, land use mix
and product type in response to evolving market
conditions and feasibility will also be considered.
The Site is prominently positioned on Barranca
Avenue, between Von Karman Avenue and Red Hill
Avenue, the Greater Airport Area’s three major
arterial corridors providing quick access throughout
the business center and to the surrounding I-405, SR55, and I-5 Freeways. The Site is directly adjacent to the 26-acre, award-winning Flight creative
office campus and Mess Hall food hall, and a mix
of residential development, offering a lively builtin mixed-use environment and amenities. These features make The Site the premier large-scale infill
development site in the County.
The Site is owned by the City of Tustin. The City is
open to re-entitling as needed to provide innovative
concepts and long-term partnerships that enhance
the built environment and align with the vision of
the broader Tustin Legacy community. The City
envisions a combination of For-Sale Housing,
Corporate/Commercial Campus, and Multi-Family,
with additional openness to a Hotel and specifically
experiential retail concepts. Residential uses
consisting of 10 or more units will be required to
provide 15% of the total units as affordable to lower
income households pursuant to the Surplus Land Act.
The NWC of Barranca & Armstrong offers a rare
opportunity for all types of users, investors, and
developers- to control a critical mass of infill land
within an already-built mixed-use environment and
Orange County’s most dynamic high-growth corridor.
Planning Areas 9-12 Planning Areas 13 & 14
• Office
• R&D
• Retail
• Service Commercial
• Public/Institutional
• Recreational
• Residential
• Office
• R&D
• Retail
• Service Commercial
• Public/Institutional
• Recreational
Barranca & Armstrong | Cushman & Wakefield | 4
Tustin Legacy Specific Plan
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
ARMSTRONG AVE
ARMSTRONG AVE
BARRANCA PKWY
Offering Highlights
Immense Master Plan Opportunity
Situated on approximately 44 gross acres, The Site offers an extremely rare opportunity to acquire a critical mass of infill Southern California real estate via a single transaction.
Part of SoCal’s Largest Ongoing Development
The Site is part of the Tustin Legacy Specific Plan, one of Southern California’s largest and most dynamic master-planned redevelopments—spanning over 1,600 acres of the former Marine Corps Air Station (MCAS) Tustin.
Surrounded by completed and active phases including The District, Flight office campus, and expansive new parks and infrastructure, The Site benefits from the momentum, connectivity, and long-term vision that define the Tustin Legacy.
Ideal Size with Built-in Access / Separation
Flight Way, Armstrong Avenue, and Swaim Way bisect The Site, providing existing access and creating two distinct areas that, with future parcelization, will allow for improved massing and greater flexibility in master planning, phasing, and execution.
Prominently Situated on Highest Trafficked Stretch of Barranca Ave The Site offers access and 722 feet of frontage along Barranca Avenue, a primary regional corridor leading to the Irvine Spectrum and a dividing line locally between the City of Tustin and the City of Irvine.
This specific stretch of Barranca Avenue lies halfway between Red Hill Avenue and Von Karman Avenue Corridors, the two main corridors throughout the business district, and directly
0.7 miles from the CA-55 Freeway. With a traffic count of over 36,000, it is the most highly trafficked stretch of Barranca Avenue and among the highest in the entire Greater Airport Area Market.
A Central Confluence of Live, Work, and Play
The Site’s location seamlessly connects the Irvine Business Complex to the South and highend Tustin residential neighborhoods to the North with substantial retail amenities. The Site’s central location offers quick access to the SR-55, I-405, and I-5 Freeways which border Irvine, Costa Mesa, and Santa Ana, and is just minutes from John Wayne Airport. This confluence of use makes The Site a viable opportunity.
The Next Phase of an Established Mixed-Use Environment
The Site benefits from built-in synergies provided by the adjacent Flight Campus, a premier fully leased creative office development, an award-winning food hall, and modern outdoor gathering spaces, and an expansive 26-acre park. Located two parcels east are successful residential concepts (The Landing and 19 AC MF Irvine Co apartments).
The adjacent developments offer an already completed top tier mixed-use ecosystem for any future development.
The confluence of uses and existing
mixed-use ecosystem makes this
site a landmark opportunity.
Barranca & Armstrong | Cushman & Wakefield | 5
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D 22 55
55 1
261 241
5 5
5 Irvine
Newport
Beach
Santa Ana
Costa Mesa
Garden Grove
Orange
A
E
n
S
a
a
Blvd
nta
Jamboree Rd
Irvine Ave
Bristol St
Newport Blvd Santa Ana Ave
Jerey Rd
Edinger Ave
Veta Ave
W La
Macarthur Blvd
Harbor Blvd
Newport Ave
E Dyer Rd
University Dr
Canyon Rd
Santiago
Garfield Ave
E 17Th St
Red Hill Ave
Main St
Irvine Center Dr
Yorktown Ave
St E
Baker
Ave
Walnut
Culver Dr
Irvine Blvd
Dr
Santiago
W 19Th St
E 19Th St
W Edinger Ave
N Harbor Blvd
Baker St
Trabuco Rd
N Bristol St
Blvd S Harbor
N Fairview St W Warner Ave
W Yale Loop
Tustin Ranch Rd
Sand Canyon Ave
Ave
Bolsa
W 17Th St
St
N Eucl di
Brookhurst St
E 1St St
Yale Ave
Yale Ave
Michelson Dr
E Yale Loop
Ave
Atlanta
Walnut Ave
Ave
Hamilton
Ellis Ave
Culver Dr
Bake Pky
Turtle R ock Dr
Park Pl
St Fairview
Ward St
Euclid St
Harvard Ave
Blvd
Muirlands
Ave
Westminster
Ford Rd
Coast Dr
Newport
Edinger Ave
S Bristol St
Placentia Ave S Euclid St
Garden Grove Blvd
Adams Ave
Talbert Ave
W Macarthur Blvd
Jamboree Rd
Place Dr
Main
Portola Pky
Blvd Macarthur
Fairview Rd
Harvard Ave
Alton Pky
Bonita Canyon Dr
Campus Dr
Hewes Ave
Canyon Rd
Laguna
E 17Th St
Brookhurst St
Victoria St
Irvine Blvd
S Main St
W 1St St
Eastblu Dr
Alton Pky
Barranca Pky
Ave
N Grand
Ave
S Grand
Santiago Dr
Jamboree Rd
Campus Dr
Blvd
rbor
Ha
Sand Canyon Ave
Euclid St
¯ 0 2 Miles
John Wayne
Airport
!
55 405
405
133
THE SITE
5 73
!^
Regional Epicenter
The City of Tustin sits at the geographic and economic center of Orange County, positioned along its southern border with Irvine just minutes from John Wayne Airport. The Site benefits from immediate access to the region’s primary transportation corridors, including Interstate 5 and State Route 55, providing seamless connectivity to all major employment hubs, coastal communities, and population centers throughout Southern California.
An Affluent Community
Tustin’s average home price has exceeded $1.2 million, with desirable neighborhoods near Tustin Ranch and Tustin Legacy often achieving average values between $1.5 million and $1.8 million. The Tustin Unified School District is highly regarded, featuring award-winning campuses such as Beckman High School, Legacy Magnet Academy, and Pioneer Middle School. Over 50% of Tustin residents hold a bachelor’s degree or higher, and the median household income exceeds $120,000, reflecting the area’s strong demographics and high quality of life.
JOHN WAYNE AIRPORT
IRVINE SPECTRUM CENTER
SOUTH COAST PLAZA
DISNEYLAND
FASHION ISLAND
UC IRVINE
CHAPMAN UNIVERSITY
ORANGE CIRCLE / OLD TOWNE ORANGE
GREAT PARK
<10 MIN.
20 MIN.
30 MIN.
35 MIN.
40 MIN.
45 MIN.
50 MIN.+
THE DISTRICT AT TUSTIN LEGACY
TUSTIN RANCH GOLF CLUB
TUSTIN METROLINK STATION
TUSTIN MARKETPLACE
ANGEL STADIUM
HONDA CENTER
NEWPORT BEACH
LAGUNA BEACH
KNOTT’S BERRY FARM
HUNTINGTON BEACH
DODGERS STADIUM
SOFI STADIUM
LOS ANGELES
INTERNATIONAL AIRPORT
LONG BEACH AIRPORT
DOWNTOWN LA
ONTARIO AIRPORT
PORT OF LONG BEACH
MINUTES BY CAR FROM Submarket Highlights Barranca & Armstrong
CHAAK KITCHEN
MESS HALL THE WINERY
Barranca & Armstrong | Cushman & Wakefield | 6
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Tustin Legacy Specific Plan
Tustin is undergoing one of the most significant urban transformations in Orange County, led by the 1,600-acre Tustin Legacy. The master plan has already delivered over 4,000 new homes, expansive parks and civic amenities, and nearly 9 million square feet of commercial and retail space anticipated based on the specific plan, establishing a true live-work-play environment.
Tustin Marketplace
Located just minutes from The Site, Tustin Marketplace is one of the region’s premier retail destinations, spanning over 1.2 million square feet with more than 120 stores and restaurants.
Anchored by leading national brands and an expanding lineup of dining and entertainment concepts, the Marketplace continues to serve as a major regional draw.
In May 2023, the Irvine City Council approved adjacent workforce housing, introducing new residential density within walking distance of retail and employment. The project is expected to generate nearly $30 million in annual spending, further energizing the surrounding commercial corridor.
Old Town Tustin
Old Town Tustin offers a complementary lifestyle experience, blending historic character with ongoing revitalization. Old Tustin features boutique retail, chef-driven restaurants, and communityoriented events that reinforce Old Town Tustin’s unique identity and neighborhood appeal.
Positioned for Continued Growth
With momentum accelerating across residential, retail, and mixed-use development, The Site is uniquely positioned to capitalize on and contribute to Tustin’s evolution into a dynamic, urbanized center within Orange County.
QUICK ACCESS TO THRIVING
HIGH-END RESTAURANTS
Positioned in the center of Orange County and
at the epicenter of the Tustin Legacy, Barranca
& Armstrong represents the premier land
opportunity in one of Orange County’s most
affluent and rapidly transforming communities.
OLD TOWN TUSTIN
Barranca & Armstrong | Cushman & Wakefield | 7
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
NEWPORT
BEACH
55 405
COSTA MESA
IRVINE
8 | NWC Armstrong & Barranca
1 mi.
TO THE 55
55 405
NEWPORT BEACH
COSTA MESA
IRVINE
Spanning approximately 25 acres, the VKCC site in
Irvine was acquired by a Lennar-backed company
for $9.3 million per acre and is being developed
into a for-sale residential community featuring
townhomes and other attached product types.
BARRANCA PKWY
RED HILL AVE
ARMSTRONG AVEARMSTRONG AVE
VON KARMAN AVEVON
KARMAN
AVE
Barranca & Armstrong | Cushman & Wakefield | 8
The District
Shopping Center
Spanning nearly one million square feet with more
than 80 shops, restaurants, and entertainment
venues—including anchors like Costco, Target,
Whole Foods, and an AMC theater.
A ±52-acre site adjacent to Tustin Legacy Park is being transformed into a mixed-use development featuring an
experiential retail concept alongside for-sale residential product, further advancing the area’s evolution into
a premier live-work-play destination.
THE SITE
BARRANCA & ARMSTRONG,
TUSTIN CA
OFFERING
GUIDELINES
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
THE SITE
Offering Guidelines
Project Vision
The City of Tustin is offering Barranca & Armstrong, an approximately 44-acre land site located at the northwest corner of Armstrong Avenue and Barranca Parkway, for ground lease or sale to a qualified developer with the vision and capability to deliver a premier, legacy-defining project.
The Site, which sits on approximately 44 acres, presents an unparalleled opportunity for the development of a unique, thoughtfully planned and cohesive project within Tustin Legacy.
An ideal project will generally align with and build upon the vision and framework established in the Tustin Legacy Specific Plan (“SP1”), by integrating next-generation office uses designed to attract best-in-class companies with supportive retail/entertainment amenities, residential neighborhoods, and modern public open space elements that foster connectivity and a thriving communityoriented ecosystem.
Alternative project concepts that may require discretionary adjustments to zoning, land use mix and product type in response to evolving market conditions and feasibility will also be considered.
The Site presents a rare opportunity to deliver a transformational project at scale within Tustin Legacy, and in close proximity to John Wayne Aiport and major regional freeeways.
Developer Qualifications
The City of Tustin is seeking qualified developers to realize the vision of the project. Developers must meet the requirements outlined below and will be verified by C&W.
• Proven success in executing and operating projects
of comparable scale
• Robust financial capabilities and consistent on-time
project delivery
Submission Process
The City of Tustin and C&W will assess submitted proposals based on the criteria outlined in this offering memorandum. Following this evaluation, a recommendation may be made to the City Council for Developer selection. Depending on the quality of the proposals, the City may elect to narrow down prospective developers, request more refined proposals, and shorten the offering timeline (page 11). Upon selection, the City Council will enter into an Exclusive Negotiating Agreement (“ENA”) with the chosen Developer. This ENA will serve as the framework for negotiating the transaction details.
DEVELOPER AND CITY EXPENSES
The chosen Developer is to provide a deposit along with ENA execution to assist with City’s costs from the onset of negotiations, closing, and certificate of compliance (project completion). The selected Developer is to replenish the deposit periodically to ensure the City has available funding to cover consultant costs, legal review fees, real estate transaction expenses, and City staff time.
The deposit is separate from entitlement, construction, bonding fees and costs. The selected Developer will pay for all development and construction costs which include traditional hard costs, soft costs, fees, and the City’s review costs which consist of staff time, consultant review and legal fees.
• CONVEYANCE
The Property will be conveyed or leased on an “as-is, where-is and with all faults” basis to Developer. Conveyance will occur subject to conditions within the Disposition and Development Agreement (“DDA”) or Ground Lease, one of which will include approved permit-ready plans.
The Property is subject to the California Surplus Land Act (“SLA”).
The mandatory Notice of Availability process for the Property was completed and there will be a covenant on the property requiring 15% of residential units be dedicated as affordable units if 10 or more residential units are ever developed on the Property. • PROJECT PERFORMANCE
Developer will be selected based on its ability to timely close and execute the project. Proposals premised on speculative land holding will not be considered. Project and schedule performance standards will be included in the DDA or Ground Lease to ensure timely execution.
Barranca & Armstrong | Cushman & Wakefield | 9
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D ±60 DAYS
Round One - Proposals Submitted
A call for offers date requesting Developers to submit a letter of intent and conceptual design proposal following the marketing period.
III. Initial Review
C&W & The City of Tustin to review qualified proposals.
C&W to notify qualified Developers to proceed to Round Two.
IV.
±60 DAYS
Marketing Launch
C&W will market the property for an
approximately 60-day period.
I. Questions Due
Following the marketing launch, questions will be due within 3-weeks.
Answers will be sent out to all Developers simultaneously.
II.
±60 DAYS
Developer Selection
Based on review of proposals, C&W may reach out to a specific group of qualified Developers and ask them to submit additional information and participate in interviews with the City. Developers are expected to submit an improved offer, including but not limited to the following:
• Offer price and detailed financial information
• Due diligence process & timeline
• Advanced design and architectural information
Round Two VI.
The City in its sole discretion, may direct C&W to communicate with a select number of Developers and ask them to submit additional information and participate in interviews with the City. Developers are expected to submit an improved offer, including but not limited to the following:
• Offer price and detailed financial information
• Due diligence process & timeline
• Advanced design and architectural information
V.
Offering Timeline
THE SITE
Barranca & Armstrong | Cushman & Wakefield | 10
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Format
Developers must submit proposals that adhere to the following format and organizational structure, as outlined below. Proposals should not exceed twenty (20) pages in total.
Investment Entity
• ORGANIZATIONAL STRUCTURE:
Detail the investment entity, its structural organization, and the role of the primary negotiator. • AFFILIATIONS:
Describe whether the investment entity has any associated subsidiary entities or related organizations.
• PROJECT COMPLETION GUARANTOR:
Specify the entity responsible for guaranteeing project completion, including its financial strength and existing obligations.
Experience/Qualifications/References
• RELEVANT PROJECT HISTORY:
Showcase successful completion of comparable mixed-use projects within California, limit examples to three projects completed in the last 5 years, clearly stating the Developer’s role. • KEY PERSONNEL:
Outline the backgrounds of key project team members and their roles (Project Lead/staff, Consultant Team – Architect, General Contractor, Legal Counsel, etc.). • PRIOR PUBLIC SECTOR LAND TRANSFER EXPERIENCE:
Describe the Developer’s/legal team’s experience in previous negotiations with government bodies regarding land conveyance.
• LEGAL MATTERS:
Disclose any ongoing or past (within the last 10 years) legal actions involving a local, state, or federal agency, and explain.
• ARCHITECTURAL AND DESIGN EXPERTISE:
Provide details about the architectural and design team, along with examples of constructed or entitled projects.
1. 2.
Business Offer/Project Feasibility
• PROPOSAL:
Provide a summary of purchase price or Ground Lease terms. For purchase, include purchase price information on a single or multiple closings. For Ground Leases, include information such as initial term, extension options, right to purchase, right of first refusal/ right of first offer, rent escalations, Fair Market Value resets, etc. • ONE TIME AND/OR ONGOING BENEFITS:
Provide a summary of any profit participation proposals, or other one-time or ongoing benefits to the City from the proposed land use/transaction.
Project Financing/Financial Capacity
• CAPITALIZATION STRUCTURE:
Project financing details, including specific sources of funds. • EQUITY CONTRIBUTION:
Specify the equity component and its role within the project (passive vs. active; preferred vs. common equity; internal vs. external Developers).
• DEBT FINANCING:
If applicable, provide information regarding the lender and loan terms.
Narrative
• PROJECT OVERVIEW:
A comprehensive project description articulating the Developer’s vision. The Developer is expected to deliver the project as represented in their proposal.
Conceptual Vision/Architecture
• PRELIMINARY SITE LAYOUT:
Illustrate building footprints, parking areas, open spaces, and amenities. • DESIGN INSPIRATION:
A collection of images representing the design intent and suggested materials. • PARKING PROVISIONS:
Provide information on required parking, provided parking, parking dimensions, as well as any additional parking information based on land use (guest parking, accessible parking, public parking, etc.)
Developer Terms
• CONTINGENCIES:
If any, please describe.
3. 4.
5. 6.
7. Submittal Requirements
Round One - Letter of Intent & Conceptual Design Proposal:
Barranca & Armstrong | Cushman & Wakefield | 11
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Following Round One, qualified Developers will participate in the design and planning-focused Round Two with updated project financials reflecting a refined project design. Developers and their project team will have the opportunity through the interview process to ask questions and receive feedback on their project proposal. There will be an opportunity to adjust the proposal to reflect City feedback before final Developer selection.
Architecture
• DETAILED SITE PLAN
• FLOOR PLANS
• ELEVATIONS/RENDERINGS
• CIRCULATION DIAGRAM
• UNIQUE DESIGN ELEMENTS:
Depict distinctive aspects and spaces within the project. • MATERIAL SELECTION:
Specify proposed materials and finishes, including examples of similar applications in completed projects.
• LANDSCAPING PLAN
• AMENITY LAYOUT
• TECHNICAL PROJECT SUMMARY:
Include project information, compliance with relevant standards, and any proposed deviations on The Site plan.
1. Business Plan
• UPDATED FINANCIAL MODEL:
A financial model reflecting the proposed design, including a working quarterly cash flow projection from pre-development through completion, along with a static summary at build-out. (Submit a functioning Excel model with protected cells marked). Excel model should clearly state all underlying assumptions and provide a breakdown of land/lease costs, soft costs, hard costs and financing expenses in total and on a per-unit basis.
Financial information should also include the metrics utilized in project underwriting (ROC, IRR, NPV, ROE, ROI, etc)
• FUNDING SOURCES:
Identify all sources and applications of project funding. • UPDATED PRICING:
Please provide updated pricing that aligns with your refined Round Two proposed concept/proposal.
• PROJECT TIMELINE:
Outline key milestones from the start of pre-development through project completion.
Developer Selection - Refined Proposal (Select Developers Only) Following Round Two, select Developers will be asked to submit a refined offer. Developers will be asked to improve their offering position based on the expectations outlined in the Round Two section. The most qualified developer with a compelling proposal will be selected to initiate negotiations with the City. Selection of the Developer does not constitute approval of the submitted proposal or final business terms.
Submittal Requirements 2.
Round Two - Revised Design & Business Plan (Qualified Developers Only)
THE SITE
THE SITE
Barranca & Armstrong | Cushman & Wakefield | 12
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
NEWPORT
BEACH
55 405
COSTA MESA
IRVINE
13 | NWC Armstrong & Barranca
1 mi.
TO THE 55
55 405
NEWPORT BEACH
COSTA MESA
IRVINE
Spanning approximately 25 acres, the VKCC site in
Irvine was acquired by a Lennar-backed company
for $9.3 million per acre and is being developed
into a for-sale residential community featuring
townhomes and other attached product types.
BARRANCA PKWY
RED HILL AVE
ARMSTRONG AVEARMSTRONG AVE
VON KARMAN AVEVON
KARMAN
AVE
Barranca & Armstrong | Cushman & Wakefield | 13
The District
Shopping Center
Spanning nearly one million square feet with more
than 80 shops, restaurants, and entertainment
venues—including anchors like Costco, Target,
Whole Foods, and an AMC theater.
A ±52-acre site adjacent to Tustin Legacy Park is being transformed into a mixed-use development featuring an
experiential retail concept alongside for-sale residential product, further advancing the area’s evolution into
a premier live-work-play destination.
THE SITE
BARRANCA & ARMSTRONG,
TUSTIN CA
AREA
OVERVIEW
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
S K I I N G
L O S A N G E L E S
PA L M
L A S V E G A S
S P R I N G S
S A N D I E G O
B E A C H E S
“Orange County is the
geographic center of
Southern California”
• New Tech (Google)
• Video Games (Blizzard)
• Life Sciences (Edwards
• Life Science)
• Professional Sports
• (Angels, Chargers, &
• Ducks)
• Healthcare (UCI Med Cntr
• & HOAG+)
• FinTech (Acorns)
• Electric Vehicle (Rivian)
• Andruil Industries
• Walt Disney
• Edwards Life Science
• Masimo Corp
• Rivian
• Golden State Foods
• Broadcom Inc.
• PIMCO
• Edwards Lifesciences Corp.
• Chipotle Mexican Grill Inc.
• Rivian Automotive Inc.
• Skyworks Solutions Inc
• Masimo Corp.
• Envista Holdings Corp.
• First American Financial Corp.
• ICU Medical Inc.
• Alteryx Inc.
• Inari Medical Inc.
• Ensign Group Inc.
• Pacific Premier Bancorp Inc.
• Sabra Health Care REIT
• Axionics Inc
• Boot Barn Holdings Inc.
• Glaukos Corp
• Sunstone Hotel Investors Inc
• Alignment Healthcare Inc
• CareTrust REIT Inc
• Clean Energy Fuels Corps
• Vizio Holding Corp
• TTM Technologies Inc
• Banc of California, Inc
• Netlist Inc
• Avid Bioservices Inc.
• Xpotential Fitness Inc.
• LoanDepot, Inc.
OC Diverse
Growth Industries $ 1B + Valuation Companies HQ in OC
Orange
County
The Most Underrated
Investment Market in
Southern California
With over 3 million people, Orange County
extends across nearly 950 square miles
with 42 miles of stunning coastline and
encompasses 34 distinct vibrant cities. Its
strategic location straddling between San
Diego and Los Angeles makes Orange County
the geographic logistical hub for Southern
California. Orange County showcases an
enviable Mediterranean climate and #2
nationally ranked John Wayne Airport
for overall travelers’ satisfaction and
“efficient access”.
Famous for its world-renowned entertainment
attractions including Disneyland and Knott’s
Berry Farm, Orange County ranks #4 (source:
Niche) in California as the most desired place
to live, work and play. The county’s economy
is supported with a diverse mix of technology,
biotechnology and medical device industries
and boasts the lowest sales tax in California.
Orange County is home to several universities,
including the University of California, Irvine,
and Chapman University and is ranked #1 in
Southern California for the most university
educated workforce.
2ND
SAFEST METROPOLITAN AREA IN US
2nd Safest MSA
Source: fbi.gov
Source: cdtfa.ca.gov
Lowest Sales Tax in CA
LA: 9.75% | SF: 8.63%
OC: 7.75%
4TH
LARGEST NORTH AMERICAN
MARKET FOR WORKFORCE
TALENT SPECIALIZING IN AI/TECH
Tech Job Growth
Source: beckerhospitalreview.com
Barranca & Armstrong | Cushman & Wakefield | 14
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
POPULATION
6th
Most Populous
County In The US
(3.2M PEOPLE)
CALIFORNIA-DEMOGRAPHICS.COM
#1
Medical Device Manufacturing
The UCI Medical Campus was completed in 2025, establishing itself as leading hub for medical device manufacturing, life sciences, and advanced patient care.
Home to Multiple Nationally Recognized
Universities in the United States
• UC Irvine (US Ranked #6 Public)*
• Cal State Fullerton (US Ranked #26 Public)
• Chapman University (Top 110 National Universities)
(source: forbes 2025 top college list)
42 Miles
Of World Renowned Beaches
Huntington Beach, Newport Beach, Crystal Cove,
Laguna Beach, Dana Point and San Clemente
Barranca & Armstrong | Cushman & Wakefield | 15
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Represents the 6th largest county population in the
U.S., the 2nd highest density in California, and over 12% population growth since 2010.
POPULATION
3.2M
Represents the 2nd largest workforce in California, 0.4% nonfarm employment growth between May 2024 and May
2025, and 4th largest tech talent workforce in North America.
UNEMPLOYMENT RATE
3.8%
Represents #5 most university educated County in the
U.S., $1,140,000 median home value, and a quick 27
minute median work commute time.
MEDIAN HOUSEHOLD INCOME
$136,600
Orange County Demographics
& Economic Strengths
COUNTY TOTAL POPULATION TOTAL EMPLOYMENT TOTAL REGION
PRODUCT ($IN B)
EMPLOYMENT
PER CAPITA GRP PER CAPITA GRP PER
SQUARE MILE
EMPLOYMENT PER
SQUARE MILE
San Diego 3,298,799 1,559,000 $262 0.47 $79,400 $62,150,000 371 San Bernardino 2,214,281 991,700 $123 0.45 $55,700 $5,015,000 49 Riverside 2,529,933 1,151,000 $115 0.32 $44,900 $13,200,000 242 Orange 3,170,435 1,586,500 $314 0.52 $99,500 $420,700,000 1,994 Los Angeles 9,757,179 4,912,70 $913 0.46 $94,600 $237,100,000 1,193 Source: labormarketinfo.edd.ca.gov
Gross Regional Product and Employment Comparison
Barranca & Armstrong | Cushman & Wakefield | 16
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Ranked 9th In
Nation IN OC SERVICE NEARLY
500,000 STUDENTS
643 Public
Schools
The District is in an aggressive expansion with school improvement projects being fueled by a 0.5% sales tax option passed by the voters of Orange County in 2002.
Public Schools
TRAVEL RELATED
SPENDING 2024
$16.3B
U.S. LARGE AIRPORT CUSTOMER
SATISFACTION - JD POWER
#1
FLIGHTS / MO.
10,000+
PASSENGERS TRAVELED
THROUGH JOHN WAYNE AIRPORT
10.4M
COUNTRIES
11 AIRLINES
14 ROUTES
180
MILLION PEOPLE VISITED
CALIFORNIA IN 2025
279
Tourism
Statistics
John Wayne
Airport Statistics
INTERNATIONAL PASSENGERS
273,000 Additionally 23 miles North of the asset is Long Beach Airport, which is 20 miles South of LAX. Long
Beach handles approximately 1.3M passengers a
year on 3,243 flights and 74 routes.
ARTS, ENTERTAINMENT
AND RECREATION
1,246
TOTAL
9,239
ACCOMMODATIONS
AND FOOD SERVICES
7,993
TOTAL ESTABLISHMENTS
(FOR ALL SECTORS)
94,703
Arts, Entertainment, Accommodation +
Food Establishments
Why Orange County?
Barranca & Armstrong | Cushman & Wakefield | 17
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Orange County
Residential Influx
from LA & SF
As of January 2026, the median home price across
Orange County is approximately $1.15 million,
reflecting a stabilization following several years
of rapid appreciation. Despite moderating prices,
housing demand remains strong as professionals
continue relocating from higher-cost urban
markets such as Los Angeles and San Francisco
in search of improved quality of life near major
employment centers. Orange County’s proximity
to John Wayne Airport, extensive freeway network,
coastal amenities, and concentration of technology,
healthcare, finance, and professional services firms
continues to attract both residents and businesses.
Companies are increasingly drawn to the region
for its high-quality office environments, walkable
mixed-use districts, and balanced live-work-play
lifestyle, reinforcing Orange County’s position as
a premier alternative to traditional urban cores.
San Francisco
Los Angeles
Orange County
Orange County’s major employers are
shown in the table below. The diversity
of the employment base as well as the
major employers for the County continue
to provide for tremendous demand
drivers for the commercial and residential
segments of the real estate markets. No
single employer dominates the market and
most are in expansionary mode in terms
of hiring and growth, consistent with that
of the larger economy.
LARGEST OC EMPLOYERS
COMPANY # EMPLOYEES
Walt Disney Co. 36,000
University of CA Irvine 34,085
Providence 25,155
County of Orange 18,000
Kaiser Permanente 10,293
Hoag 8,081
Allied Universal 7,214
Albertsons/Vons/Pavilions 7,152
MemorialCare 6,326
Choc Childrens Hospital 5,555
Boeing Company 5,280
Costco Wholesale 5,029
Edwards 5,004
Six Flags 5,000
Cal State Fullerton 4,211
In-n-Out Burger 3,492
Applied Medical 3,488
AAA 3,317
Northgate Market 3,028
KPC Health 2,469
Irvine Company 2,400
OC Largest
Employers
Trailing 12 Months
New Hiring in
Orange County
122%
61%
45%
42%
33%
30%
19%
18%
16%
15%
(Source: C&W Research, OCBJ)
Barranca & Armstrong | Cushman & Wakefield | 18
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D
PREMIER SHOPPING
DESTINATIONS
The District at Tustin Legacy
South Coast Plaza
Fashion Island
Irvine Spectrum Center
The Market Place
Positioned at the Heart of the Best
of Orange County
THE DISTRICT
THE OCV!BE PROJECT
TUSTIN RANCH GOLF COURSE
42 MILES OF COASTLINE TUSTIN LEGACY
ANAHEIM STADIUM
EXCLUSIVE GOLF CLUBS
Tustin Ranch Golf Club
Oak Creek Golf Club
Strawberry Farms Golf Club
Shady Canyon Golf Club
Newport Beach Country Club
Pelican Hill Golf Club
EXCITING RECREATION
Tustin Sports Park
Tustin Legacy Linear Park (26 acres)
Orange County Great Park
Peters Canyon Regional Park
OC Zoo & Irvine Regional Park
Bark Barracks dog park
at Tustin Legacy
UPSCALE RESORTS
The Resort at Pelican Hill
Balboa Bay Resort
Lido House, Newport Beach
Vea Newport Beach
Disneyland Hotel
JW Marriott, Anaheim Resort
AFFLUENT RESIDENTIAL
COMMUNITIES
Tustin Ranch
Greenwood at Tustin Legacy
Columbus Grove
Orchard Hills (Irvine)
Woodbridge (Irvine)
Shady Canyon
Newport Coast
Barranca & Armstrong | Cushman & Wakefield | 19
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D The Henry Samueli School of Engineering ranked 31st
among engineering schools whose highest degree is a
doctorate. In 2021 The Paul Merage School of Business is ranked #70 nationally among fulltime MBA programs.
Chapman ranked in the top 100 for
best business schools in the US, and
ranked #4 Top American Film School
according to the U.S News and World
Report & The Hollywood Reporter
Chapman is ranked in the top
15% of American colleges and
universities, including the highly
ranked Fowler School of Law.
Anaheim has the largest proportion of percent
of people with a science or engineering degree
at 10.6% of the total and is ranked #1
UCI is the second largest employer and one of the
largest economic drivers in Orange County with an
UCI ranked 9th among the nations best public universities economic impact totaling $7 billion, annually and 32nd among all national public and private
universities, according to the annual US News & World
Report America’s Best Colleges ranking of undergraduate programs at leading universities. Significant
More than 36,600 undergraduate
and graduate students and a high
concentration of STEM (science,
technology, engineering, and
mathematics) related studies.
Chapman offers 65
bachelor degrees, 57
minors, 17 accelerated
and bridge, 53 masters,
and 6 doctoral programs
Barranca & Armstrong | Cushman & Wakefield | 20
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Tustin, California is a centrally located city in Orange County, known for its rich military history, vibrant master-planned growth, and strong community character. Once home to the historic MCAS Tustin, the City has evolved into a dynamic blend of residential neighborhoods, corporate campuses, and retail destinations, anchored by the 1,600-acre Tustin Legacy Specific Plan.
Tustin is home to The District at Tustin Legacy, a premier open-air shopping, dining, and entertainment center, as well as The Flight, a cutting-edge creative office campus with the popular Mess Hall Market food hall. The City’s walkable neighborhoods, abundant parks, and top-rated schools—served by Tustin Unified School District—contribute to its reputation as one of Orange County’s most desirable places to live.
Positioned between Irvine, Costa Mesa, and Santa Ana, Tustin enjoys exceptional freeway access via the I‑5, SR-55, and I-405, offering residents and businesses seamless connectivity to all of Southern California.
Tustin Notable Employers:
“The fastest growing city in
Orange County, 50% higher
than all Orange County”
(Growth rate 2013-2023; Source: World Population Review) Tustin
$112,000
MEDIAN
HOUSEHOLD INCOME
50%+
BACHELOR’S DEGREE
OR HIGHER
36.8 Years
MEDIAN AGE
$1.25M
AVERAGE
HOME PRICE
79,000
POPULATION
3,700
NUMBER OF
BUSINESSES
Barranca & Armstrong | Cushman & Wakefield | 21
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Tustin Metrolink Station:
The Tustin Metrolink Station, located at 2975 Edinger
Avenue, is just 2 to 3 miles east of The Site and serves as a key transit hub for the region. The station offers access to both the Orange County Line, which connects to Downtown Los Angeles and multiple Orange County cities, and the
Inland Empire–Orange County Line, which provides service between coastal Orange County and the Inland Empire.
The station features a multi-level parking structure with over 800 spaces, is serviced by OC Bus routes, and offers seamless commuter access to major employment centers,
making it a strategic amenity for future office, residential, or mixed-use development at The Site.
Santa Ana
River
55 73
5 405
Jamb oree
Rd S
Golf Club
Tustin Ranch
School
Elementary
California
Magnet School
Elementary
Davis
UCI
Huntington State
Square
Windsor Village
Pacific Park Pico-Lowell
Square
Wilshire
Shadow Run
Canyon
Lower Peters
Evergreen
Cedar
View
Saddleback Santa Anita
Valley
West Grove
Sandpointe
University Park
Joaquin
Rancho San
Memorial Park
Santa Ana
Complex
Irvine Business
El Camino Real
Baker
Rosewood
Woodbridge
Shady Canyon
Town Center
University
Costa Mesa
Downtown Turtle Rock
Oak Creek
Walnut
Cy
Northwood
Quail Hill
Tustin
Valley
Fountain
Santa Ana
Costa Mesa
Irvine
73 55
55 5
5 405
405
405
405
405
Airport
Wayne
John
Irvine
Santa Ana
Costa Mesa
Newport Beach
Garden Grove
Tustin Legacy Park
California
Southern
Vanguard University of
College
Coast
Orange
University
Concordia
Irvine
California
University of
Valley College
Irvine
Plaza
Coast
South
Coast
At South
Metro Pointe
Station
Metrolink Plaza
Costco
Legacy
Tustin
The District At
Costa Mesa
Reserve Base
US Army
Communities Hospital
and Medical Center Coastal
Valley Regional Hospital
Fountain
Hoag Hospital Irvine
Club
Country
Mesa Verde
Golf Course
Willowick
Course
Golf
Mile Square
Memorial Golf Course
L. Baker
David
Club
Country
Santa Ana
Club
Country
Costa Mesa
Course
Newport Beach Golf
Golf Course
Joaquin
Rancho San
Golf Club
Farms
Strawberry
Golf Club
Shady Canyon
Club
Golf
Oak Creek
Golf Club
Ranch
Tustin
Ave
Grand
St N Fairview
E
An
S
a
a
Blvd
nta
Dr
Mariners
Jamboree Rd
Irvine Ave
Bristol St
Santa Ana Ave
Irvine
Ave
Jerey Rd
St
E 4Th
Edinger Ave
Ave
Atlanta
Macarthur Blvd
Ave
Hamilton
Harbor Blvd
E Dyer Rd
University Dr
W Warner Ave
Garfield Ave
Ave
Warner
Red Hill Ave
W 1St St E 1St St
St E
Baker
Ave
Yorktown
Main St
Ave
Walnut
Alton Pky
Jamboree Rd
Jamboree Rd
Par
k Pl
Talbert Ave
E 19Th St
Baker St
Trabuco Rd
Irvine Blvd
W Warner Ave
W Yale Loop
W Yale Loop
Tustin Ranch Rd
Ave
W Edinger
E Edinger Ave
Bolsa Ave
Adams Ave
Ellis Ave
Brookhurst St
Warner Ave
Yale Ave
Yale Ave
Superior Ave
W 1St St
Sand Canyon Ave
Michelson Dr
E Yale Loop
Barranca Pky
St
S Main
Walnut Ave
Culver Dr
Turtle Rock Dr
St N Bristol
Dr
Campus
Irvine Ave
St Fairview
Euclid St
Ward St
Euclid St
Irvine Blvd
Harvard Ave
Irvine Center Dr
Ford Rd
S Bristol St
P al centia Ave S Euclid St
S Harbor Blvd
W Macarthur Blvd
W Edinger Ave
S Harbor Blvd
Macarthur B vl d
Fairview Rd
Harvard Ave
S Grand Ave
Bonita Canyon Dr
Campus Dr
S Bristol St
Canyon Rd
Laguna
133
E 17Th St
Victoria St
S Main St
Jamboree Rd
Santiago Dr
Eastblu Dr
Newport Ave
Pky
Alton
S Fairview St
S Grand Ave
E Yale Loop
Campus Dr
¯ 0 2 Miles
!^
1 mile
CONTINUED
Tustin Local Map
THE SITE
THE SITE
!
Barranca & Armstrong | Cushman & Wakefield | 22
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Tustin and Orange County have experienced strong and largely parallel home price appreciation since 2020, with values increasing to approximately $1.1M+, while Los Angeles has trailed at lower price points with more moderate growth.
California overall has shown steady but less pronounced gains. The sustained pricing strength in Tustin reflects continued demand for high-quality, suburban infill locations within Orange County.
TUSTIN LOS ANGELES ORANGE COUNTY CALIFORNIA
TUSTIN LOS ANGELES
Year- Over-Year Growth
-2.00%
-1.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
1995 2000 2005 2010 2015 2020 2025
YOY Population Growth
Year
Tustin vs OC YOY Population Growth
Tustin vs Los Angeles Home Price Growth
Barranca & Armstrong | Cushman & Wakefield | 23
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D Jeffrey Cole
+1 949 955 7652
[email protected]
Lic #00833681
Kristen Schottmiller
Associate
+1 949 930 4364
[email protected]
Lic #02122088
Nico Napolitano
+1 949 955 7642
[email protected]
Lic #01962860
Ted Terry
Financial Analyst
949 500 1218
[email protected]
Lic. #02196729
SALE ADVISORS
BARRANCA &
ARMSTRONG
TUSTIN, CA
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D No. Land Use Program Full or
Partial Site
Ad-Hoc Committee
Recommendation to
Advance to Rd 2
1A Mix of Uses Office, Hotel, Retail, For-Sale Residential, Multi-Family Residential, Affordable
Housing
Full Site Yes
1B Mix of Uses Office, Hotel, Retail, For-Sale Residential, Affordable Housing
Full Site Yes
1C Mix of Uses Office, Hotel, Retail, For-Sale Residential, Affordable Housing
Full Site Yes
2 Mix of Uses Office, Retail, For-Sale Residential, MultiFamily Residential, Affordable HousingFull Site No 3 Mix of Uses Office, For-Sale Residential, Multi-Family Residential, Affordable Housing
Full Site Yes
4 Mix of Uses Office, Hotel, Retail, For-Sale Residential, Multi-Family Residential, Affordable
Housing
Full Site Yes
5 Mix of Uses Office, Retail, For-Sale Residential,
Affordable Housing
Full Site Yes
6 Mix of Uses Office, Hotel, For-Sale Residential, MultiFamily Residential, Affordable HousingFull Site No 7 Mix of Uses Office, Retail, For-Sale Residential, MultiFamily Residential, Affordable HousingFull Site No 8 Mix of Uses Office, Food & Beverage, Retail Partial Yes 9 Office Office Partial No
10 Residential For-Sale Residential Partial No
11 Residential For-Sale Residential Partial Yes
12A Residential For-Sale Residential Partial No
12B Residential For-Sale Residential, Affordable Housing Partial No 13A Residential For-Sale Residential Partial No
13B Residential For-Sale Residential, Affordable Housing Partial No 14 Residential For-Sale Residential, Multi-Family
Residential, Affordable Housing
Partial No
15A Residential Multi-Family Residential Partial Yes
15B Residential Mult-Family Residential, Affordable
Housing
Partial Yes
16 Residential Multi-Family Residential Partial No
17 Residential Affordable Housing Partial No
18 Residential Affordable Housing Partial No
19 Residential Affordable Housing Partial No
20 Entertainment Sport Facility Partial No
21 Religious Church Facility Partial No
22 Commercial Gas Station, Retail, Car Wash Partial No
23 Hospitality Hotel Partial No
24 Health &
Wellness
Health Center, For-Sale Residential Partial No
Docusign Envelope ID: E2DC75E3-B961-8340-82B7-742E29300F9B Docusign Envelope ID: CE755456-64B1-8993-82DD-230CFC1C9D9D