Skip Ribbon Commands
Skip to main content

News release

IRVINE, CA

Jones Lang LaSalle Markets Tustin Cottages for Sale in Orange County

Class A multifamily located in high barrier to entry market


IRVINE, CA, Aug. 23, 2011 — Jones Lang LaSalle today announced its Capital Markets experts have been selected by Nevis Homes to market the 93-unit multifamily property known as Tustin Cottages for sale in the Orange County submarket of Tustin, California.  The Class A property is expected to fetch significant interest from investors.

Leading the Jones Lang LaSalle team on this transaction are Managing Director Joe Leon and Vice President Javier Rivera.
“Tustin Cottages offers investors a great opportunity to capitalize on an extremely high barrier to entry market as there is currently no apartment land for sale in the city, and no new apartments have been built there in almost 15 years,” said Leon.  “More than 90,000 new jobs are expected to be created in the region in the coming years, creating even more demand for Class A properties such as this.”

Tustin Cottages is comprised of 24 three- and four-story buildings with 93 townhome residences, with an average of 1,647 square feet per unit.  Each unit also has direct access to a two-car garage.  The property is located at 1361 El Camino Real in Central Orange County, just west of Red Hill Avenue.  It features gated access, community pool, heated spa, barbecue area and exterior fireplace.  The 153,169-square-foot property is currently 82 percent occupied.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2010 alone, Jones Lang LaSalle Capital Markets completed $43 billion in investment sale and debt and equity transactions globally.
 
The firm’s dealmakers completed $33 billion in global investment sales and buy-side transactions, equating to nearly $140 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its office broker volumes by 257 percent in 2010 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises approximately 800 specialists, operating in 185 major markets worldwide.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $45.3 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.