Irvine Company Leases 11 million sq. ft. of Office Space Over Past 12 Months, a 10% Increase from Previous Year

● Irvine Company’s office portfolio is 91% leased as of June 30, 2026.

● Activity includes 11 million square feet leased, consisting of 4.4 million square feet of new leasing and 6.7 million square feet of renewals.

● Technology, financial services and manufacturing companies are leading drivers of leasing activity.

● Flexible workspaces continue to see strong demand, with nearly two million square feet of Flex+ space leased.

Irvine, Calif. (August 18, 2026) – Irvine Company today announced a nearly 10% increase in leasing activity from July 1, 2025 – June 30, 2026, bringing its office portfolio to 91% leased, outperforming U.S. office vacancy trends, which reached 18.3% in Q2 2026, according to CBRE.

Irvine Company closed its fiscal year with 11 million square feet of leasing activity, including 4.4 million square feet of new leasing and 6.7 million square feet of renewals. This robust leasing activity was achieved by attracting and retaining major customers from the technology, financial services and manufacturing industries across Orange County, Los Angeles, San Diego, Silicon Valley, Chicago and New York.

Portfolio Performance

● Orange County is 90% leased as of June 30, 2026, with major companies including Pacific Life and Blizzard Entertainment. Notably, the 1.1M SF Spectrum Terrace campus reached 100%occupancy.

● Los Angeles is nearly 96% leased from firms such as Stifel, Nicolaus & Co., Kibler Fowler & Cave.

● San Diego is nearly 90% leased following major renewals with StepStone Group and Jones Day.

● Silicon Valley is nearly 93% leased to prominent tech companies such as Everpure.

● Chicago is 87% leased from premier financial and legal services firms including Wipfli and Benesch.

“Our strong leasing activity reflects a clear market trend: companies are actively seeking high-quality environments that bring teams together,” said Roger DeWames, President of Irvine Company Office Properties. “We see continued strong demand for the value and scale we offer, driven by our commitment to continually investing in our premium workplaces and adapting alongside our customers as their business needs change.”

Flexible leasing continues to be a high customer priority as companies seek agility across a range of  business needs. Over the past 12 months, Irvine Company recorded 1.9 million square feet of Flex+ leasing across its markets with more than 400 executed leases, bringing the Flex+ portfolio to 95%  leased. To meet continued demand, Irvine Company added 750,000 square feet of new move-in  ready inventory, representing 13% year-over-year growth in Flex+ square footage.

In May, Irvine Company expanded its Flex+ partner network to include Meter for enterprise-grade  networking and Williams Sonoma, Inc. for premium workplace accessories, joining furniture partner MillerKnoll. The expanded services provide Flex+ customers with access to resources that simplify the process of opening an office.

Regional Flex+ Highlights

● Flex+ accounted for 1.35 million square feet of leasing in Orange County, representing 27% of activity. Strong market demand drove pre-leasing on nearly half of new suites prior to completion. Recent additions include full floors of Flex+ suites at Discovery Park and Irvine Business Center, with another 800,000 square feet planned across Orange County over the next 12 months.

● At Eastgate in La Jolla UTC, all four newly developed Flex+ suites at 9530 Towne Center Drive were pre-leased before construction was complete, reflecting strong customer demand for speed and flexibility.

● Irvine Company completed a new full floor of Flex+ suites at 300 North LaSalle in Chicago this summer. The move-in ready workspaces range from 4,500 to 10,000 square feet and offer high-end designs and access to the building’s enterprise amenities.

Beyond traditional office environments, Irvine Company continues to expand its role as an essential infrastructure partner for West Coast innovation through its 22 million-square-foot R&D portfolio. Combined with industrial, manufacturing, and hardware customers, the portfolio reflects sustained demand from companies prioritizing specialized, versatile space.

Irvine Company’s market outperformance was supported by proactive investment across its portfolio, demonstrated by the following advancements across its workplaces:

● Market Ready and R&D Workspace Upgrades: Invested in market-ready interiors at 15345 Barranca in Irvine Spectrum, 330 Potrero in Sunnyvale and 9449 Carroll Park in Sorrento Valley, with upgrades including flexible office, production and warehouse areas for R&D users, new LED lighting and refreshed lobbies, as well as new outdoor workspaces and landscaping.

● 300 North LaSalle: Completed a comprehensive transformation of this trophy tower to create an experience that seamlessly transitions from morning to evening, including: a three-story lobby upgrade with premium finishes and digital media elements, new fitness and conference amenities, and the opening of NAIA overlooking the Chicago River. NAIA joins long-standing riverfront destination Chicago Cut Steakhouse, expanding the tower’s premier dining options alongside a new private customer lounge.

● New York & Los Angeles Dining: Opened Giulietta at the MetLife Building (200 Park Avenue) in New York City – joining the acclaimed steakhouse The Capital Grille – and Chaumont at 2121 Avenue of the Stars in Los Angeles.

● Orange County Meeting & Amenity Enhancements: Reimagined meeting and event spaces at Jamboree Center and Pacific Arts Plaza, featuring enhanced indoor-outdoor connectivity, state-of-the-art technology and new Kinetic Fitness offerings.

● Low-Rise Environments: Enhanced outdoor workspaces, refreshed lobbies, modernized signage and expanded Flex+ offerings across Irvine Business Center in Orange County, Eastgate La Jolla UTC in San Diego, and McCarthy Center in Silicon Valley.

● High-Rise Environments: Modernized lobby experience for both buildings at La Jolla Center and enhanced outdoor workspace with new seating, new shade structure, umbrellas and heaters, new outdoor TVs, and an upgraded event lawn at One La Jolla Center in San Diego.

“As we advance toward late-stage clinical development and prepare for commercialization, it is important for us to establish a facility that can support our next phase of growth,” said James Dennewill, Chief Operating Officer of Spyglass Pharma, Inc. “Our new Irvine location provides the  space, flexibility, and accessibility we need as we continue to build our team and develop our innovative solutions for patients with chronic eye conditions, and we’re excited to partner with Irvine Company as we scale our operations.”

“For our growing business, it was important to find a space that could support our corporate  headquarters, laboratory equipment training hub, and our regional and West Coast laboratory operations under one roof,” said Brent Hart, former CEO and current VP of Corporate Development  and Strategic Initiatives at Technical Safety Services, LLC. “Our partnership with Irvine Company made that transition seamless. Eastgate at La Jolla UTC provides the flexibility and infrastructure we need to consolidate operations, support our teams, and continue delivering critical testing, CQV, and  calibration services to our customers.”

“Since our founding in 2020, Kibler Fowler & Cave LLP has called Irvine Company’s Westwood  Gateway home. As our firm grew over the last six years, including through the pandemic, Irvine Company met our need for bigger and bigger office space and seamlessly facilitated multiple moves into larger spaces in the building—allowing us to scale in Los Angeles without disruption to client services,” said Michael Kibler, Managing Partner, Kibler Fowler & Cave LLP. “That combination of flexibility, efficiency and hands-on management is exactly what growth-oriented firms need in Los Angeles, and it’s why we’ve stayed in Westwood Gateway. We’re proud to be part of Irvine’s 2025 leasing momentum and to see this campus continue to attract top-tier businesses.”

“By expanding and securing our premier campus at Santa Clara Square through 2040, Everpure is doubling down on the region as the global heartbeat of storage and data management innovation,” says Elizabeth Rubin, Global Head of Real Estate, Workplace & Security at Everpure. “This lease  extension represents our deeply rooted commitment to Santa Clara for the long haul, ensuring we remain at the epicenter of technological advancement for decades to come.”

“As our Chicago office continues to grow, it was important for us to invest in a workplace that supports collaboration, culture and long-term growth,” said Scott Golin, Chief Strategy & Operating Officer at Benesch. “Our decision to expand at 71 South Wacker reflects increasing client demand across our core practices, as well as our commitment to providing attorneys and staff with a premier, amenity-rich environment that enables them to do their best work and deliver exceptional client service.”

Among the notable 2026 leases:

Orange County

● Blizzard Entertainment, 234,800 square feet
● loanDepot, 145,500 square feet
● Pacific Life Insurance Company, 99,000 square feet
● MobilityWare, 50,900 square feet
● Wells Fargo Advisors, 46,400 square feet
● Pan-Pacific Mechanical, 44,400 square feet
● FieldAI, 41,400 square feet
● Medon, 40,100 square feet
● Spyglass Pharma, 32,600 square feet
● JAMS, 31,400 square feet
● Harvey & Company, 20,300 square feet

San Diego

● Acon Laboratories, 97,200 square feet
● Jones Day, 68,600 square feet
● StepStone Group, 65,600 square feet
● Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, 26,200 square feet
● MG Properties, 26,200 square feet
● Fisher & Phillips, 22,900 square feet
● KPFF, 19,100 square feet
● Technical Safety Services, 16,600 square feet

Silicon Valley

● Everpure, 445,000 square feet

Los Angeles

● Stifel, Nicolaus & Company, 23,800 square feet
● Los Angeles Capital Management and Equity Research, 23,000 square feet
● Kibler Fowler & Cave, 16,800 square feet
● Lichter Grossman Nichols Feldman Rogal Shikora & Clark, 10,600 square feet

Chicago

● Benesch, Friedlander, Coplan & Aronoff, 127,200 square feet
● Wipfli, 18,600 square feet
● First Industrial Realty Trust, 17,100 square feet
● Dorsey & Whitney, 16,600 square feet

About Irvine Company Office

Irvine Company elevates the workplace by combining inspired design, exceptional quality, innovative solutions and experience-driven amenities. Renowned for continual evolution, investment and personalized service, Irvine Company creates environments that cultivate collaboration, creativity and customer success. The company serves more than 3,000 customers in 50+ million square feet of workplaces in Orange County, Los Angeles, Silicon Valley and San Diego, with iconic towers in Chicago and New York. Irvine Company leads the industry with a forward-looking mindset and commitment to creating thriving communities.