Kurv Industrial Expands in Irvine with 348,000 SQFT Acquisition and $67.5MM Loan

Kurv Industrial Expands Presence in Irvine with Major Warehouse Acquisition

Kurv Industrial has made waves in the Southern California industrial real estate market with its recent acquisition of a significant asset at 9750 Irvine Boulevard. This purchase, a 348,000-square-foot warehouse-and-office space previously leased by Rivian, underscores Kurv’s strategic ambition to deepen its foothold in one of the most supply-starved industrial submarkets in the U.S. The transaction, completed through a $67.5 million loan from PGIM Real Estate Finance, highlights Kurv’s renewed focus on logistics real estate, particularly as the firm transitions from its former identity as Bridge Industrial.

The acquisition was finalized in early April 2026, laying the ground for Kurv to establish a second significant property in Irvine following its transformation and rebranding efforts. The property, situated on 19.5 acres within the tightly constrained Irvine Spectrum area, is seen as a prime asset that could yield substantial returns, especially given its past association with Toshiba Corp. and current leasing to Rivian, an electric truck manufacturer that adds a layer of stability and prestige to the property.

While the exact sale price of the asset remains undisclosed, the $67.5 million mortgage offers insight into the transaction’s scale. Such institutional loans in prime markets typically finance a substantial part of an asset’s value, suggesting that the purchase price likely falls within the range of $104 million to $123 million. This valuation underscores the allure of the property amid rising industrial vacancies in Orange County, which, despite recent fluctuations, remains competitive and attractive for institutional investors.

The Irvine Spectrum submarket has historically experienced tight supply due to much of its inventory originating from the 1970s and 1980s. This scarcity issue is central to Kurv’s strategy, as the firm remains committed to scouting for logistics properties in core markets that exhibit strong demand and limited supply. Following its rebranding, Kurv has already solidified its presence in the region with another asset at 1 Banting, affirming its investment focus in high-demand locations.

However, the broader industrial market in Orange County is showing signs of softening, with vacancy rates inching up to 5.3% as of Q1 2026. Various data sources indicate divergent trends in vacancy figures, reflecting the complexities of the current market dynamics. This situation suggests that while the overall market is experiencing increased vacancies and falling rental rates for the first time in several quarters, the demand for high-quality Class A industrial real estate may persist in the long term.

Despite temporary market challenges, Orange County continues to exhibit one of the tightest and priciest industrial landscapes in the nation. Historical data indicates that the region’s vacancy average is significantly lower than the national norm, underscoring its attractiveness. This scenario has drawn institutional capital into Class A infill assets like Kurv’s recent acquisition, showcasing the belief that premium logistics properties will continue to command elevated values even in softer market conditions.

Finally, the sale of the Irvine asset also reflects LBA Logistics’ strategic decision to monetize its investment after repositioning the property from a single-tenant facility into a multi-tenant logistics hub over the past decade. For Kurv and PGIM, their investment in the Irvine Spectrum area symbolizes a calculated bet that the long-term demand driven by innovative tenants like Rivian will withstand the cycles of broader market fluctuations. As Kurv continues its acquisition strategy post-rebranding, it sets the stage for a future built on solid performance in a dynamic marketplace.