IRVINE, CALIF. — Tishman Speyer and Mitsui Fudosan America (MFA) have officially launched construction on the 380,000-square-foot first phase of Bake Freeway Business Park in Irvine, California. Upon completion, the entire park will cover 600,000 square feet of Class A industrial space, strategically located with direct access to Interstate 5 and the greater Orange County area.

The first phase includes two buildings: a 176,337-square-foot facility with 186 parking stalls on 9.5 acres at 15700 Bake Parkway, and a 202,831-square-foot building with 287 parking stalls on 10 acres at 15800 Bake Parkway. Both buildings will feature 36-foot clear warehouse space, 25 dock-high doors, and two ground-level doors.

KPRS is the general contractor for the initial phase, which is set to be completed by the third quarter of 2025. The joint venture acquired the 31.9-acre, fully entitled development site in December 2023. When fully developed, Bake Freeway Business Park will include four buildings ranging from 73,000 square feet to 203,000 square feet.

To finance the first two buildings, Tishman Speyer and MFA secured an $84.7 million construction loan from JPMorgan Chase.