Hedge fund TGS Management LLC plans to convert a pair of offices in Irvine, which were formerly the South Orange County campus for California State University, Fullerton, into a warehouse, reported the Orange County Business Journal. The Irvine-based company, led by local billionaire C. Frederick Taylor, is in the early stages of seeking approval for the project.
It’s not clear when construction could begin on the 12-acre site, located at 1 and 3 Banting in Irvine. If the project moves ahead, it would be among the largest office-to-industrial conversions for the Spectrum area of Irvine, an area that’s seen the largest amount of new office development in Orange County over the past decade, the Business Journal reported.
TGS paid $49.6 million for the site in 2021. The project would join a number of office-to-industrial conversions in Irvine, located primarily near John Wayne Airport, as well as a rising tide of ground-up industrial development in the city.
