Irvine Company leases 176,000 square feet at Irvine Towers; new restaurant, outdoor meeting space to open
Company also installs ‘hybrid-electric’ batteries
IRVINE, Calif. (Feb. 7, 2018) – Irvine Company announced today five leases totaling 176,000 square feet at Irvine Towers.
The customers are reverse mortgage leader American Advisors Group (AAG), accounting and advisory firm Squar Milner, environmental engineering firm Brown and Caldwell, law firm Carothers DiSante & Freudenberger and credit union innovator CU Direct.
The leases come as Irvine Company completes a multimillion dollar reinvestment at the five-building, one-million-square-foot project. The reinvestment includes the addition of unique outdoor workspace, the opening of Davio’s, a Northern Italian Steakhouse concept new to Orange County and the installation of cost-and-energy-saving “hybrid-electric” batteries.
The leases also represent the successful back-filling of space currently occupied by Cylance. Cylance will move in spring to Irvine Company’s new 21-story 400 Spectrum Center. The cybersecurity artificial intelligence innovator was drawn to the quality of the building, its outdoor spaces and the opportunities for their employees to innovate.
“We are excited that so many industry-leading companies have identified our workplace communities as the ideal place to inspire their employees and recruit and retain talent,” said Steve Case, executive vice president, Irvine Company Office Properties.
Irvine Towers is now 96% leased. The Irvine Company’s overall Irvine portfolio is 96.6% leased, which includes 200 and 400 Spectrum Center towers, The Quad @ Discovery Business Center and Sand Canyon Business Center, its newest workplace communities.
AAG, the nation’s number one reverse mortgage lender, leased 65,000 square-feet on the 9th-11th floors at 18200 Von Karman and will take building-top signage when they relocate their sales and marketing teams from Orange in spring of 2018.
Squar Milner, one of California’s largest accounting firms, leased 43,000 square-feet on the 9th and 10th floors at 18500 Von Karman. The firm will also take building-top signage and is moving from Newport Beach in late 2018. The company has also leased 16,000 square feet at Irvine Company’s Westwood Gateway in Los Angeles.
CU Direct is expanding its Innovation Lab from 9,000 square feet to 30,000 square feet, leasing space on the 5th and 9th floors at 18400 Von Karman. The company provides best-in-class lending technology solutions to credit unions and automotive dealers across the country.
Brown and Caldwell, the largest engineering firm solely focused on the U.S. environmental sector, has been a long-time Irvine Towers customer. The company is expanding to the 11th floor of 18500 Von Karman and will occupy 21,000 square feet.
And law firm Carothers DiSante & Freudenberger has signed a lease for 17,000 square feet at 18300 Von Karman.
The leases come as Irvine Company completes construction on a new outdoor plaza and other state-of-the-art, on-site amenities. The centerpiece of the reinvestment is the addition of The Commons, an open-air gathering place featuring casual workplaces, an outdoor living room and complimentary WiFi. The outdoor plaza will also include a shaded conference space with TVs, soft seating and fire pits, a raised platform stage for hosting events, as well as ping pong.
The opening of Davio’s Northern Italian Steakhouse’s first West Coast location is also under construction. The upscale restaurant serves a curated menu of Northern Italian fare, including homemade pastas, fresh seafood and salad, as well as prime aged Brandt beef. The extensive brunch, lunch and dinner menus offer guests signature items such as American Kobe Beef Meatballs, Oven Baked Crab Cakes, Hand-Rolled Potato Gnocchi and Seared Sea Scallops. Take out will be available for Irvine Towers employees, as well as private dining spaces for business lunches and dinners.
Irvine Towers has also joined Irvine Company’s fleet of hybrid-electric buildings powered by state-of-the-art energy storage systems from Tesla Energy. The portfolio-wide program, in partnership with Advanced Microgrid Solutions, stores energy to reduce peak-energy consumption, eases the need for additional power plants, reduces electricity costs for customers and provides back-up power during grid outages.
With easy access to the 55 and 405 freeways and 73 Toll Road, Irvine Towers makes it easy to recruit and retain Southern California’s most sought after professionals.
Irvine Towers also offers KINETIC, which blends a state-of-the-art fitness center and wellness services, a contemporary conference and event center, an on-site Irvine Marriott Hotel, complete with 27,000 square-feet of flexible meeting space including a 12,960-square foot Grand Ballroom, Starbucks, and upscale FLOE Lounge, Mickey Fine Sundries Store, a weekly Farmer’s Market with visiting food trucks, and additional on-site dining options at Specialty’s Café & Bakery.
About Irvine Company Office Properties
As a long-term owner who continuously reinvests, Irvine Company has evolved the traditional office to something much more: vibrant workplace communities. A place where collaboration is encouraged and creativity is enabled to elevate business success. The Company owns and manages 150 premier workplace communities in Orange County, Los Angeles, Silicon Valley and San Diego, as well as iconic trophy towers in Chicago and New York. The portfolio includes 50 million square feet with more than 3,000 customers in a wide range of industries. Its timeless design and quality craftsmanship is consistent with its long-term view and pride of ownership.