Kurv buys 348K‑SF Irvine asset

Kurv Industrial bought a 348,000-square-foot warehouse-office property at 9750 Irvine Boulevard in Irvine from LBA Logistics on April 22. (therealdeal.com) The building sits on a 19.5-acre parcel in the Irvine Spectrum business park, and Kurv said it will rename the site Kurv Irvine II. (therealdeal.com) PGIM Real Estate Finance backed the acquisition with a $67.5 million loan, according to deal-tracking reports tied to the closing. (traded.co) Sale terms were not disclosed publicly, but Traded estimated implied pricing in a roughly $104 million to $123 million range based on the debt amount. (traded.co) The purchase is Kurv’s second Irvine acquisition. The company already owns a 215,000-square-foot warehouse on 12 acres at 1 Banting, delivered last year. (therealdeal.com) Kurv changed its name from Bridge Industrial in March 2026, and the Irvine deal extends a buying streak that included a $219.7 million warehouse portfolio purchase in Pompano Beach this month. (therealdeal.com 1) (therealdeal.com 2) The Irvine asset includes both office and warehouse space, and The Real Deal reported tenants include electric truck maker Rivian. LoopNet marketing materials also list space for lease at the property. (therealdeal.com) (loopnet.com) Kurv is buying into Orange County as industrial conditions soften. CBRE said countywide vacancy rose to 5.3% in the first quarter from 4.9% in the fourth quarter of 2025. (cbre.com 1) (cbre.com 2) CBRE also said net absorption in Orange County turned negative 380,718 square feet in the first quarter, while asking lease rates fell 3.7% to $1.55 per square foot per month, triple net. (cbre.com) That leaves Kurv with a newly financed large-format Irvine property just as more space is hitting the market and landlords are cutting rent expectations. (cbre.com) (therealdeal.com)