Irvine Company leases more than 10 million square feet in California last year
New projects Spectrum Terrace and Innovation Office Park attract global brands, including Sega of America and Coca-Cola
IRVINE, Calif. (February 21, 2023) — Irvine Company wrapped up another strong year of activity, leasing more than 10 million square feet of premium office space to more than 900 companies in California.
One of few developers to build and open new office campuses during the pandemic, the company also completed and has nearly fully leased Spectrum Terrace in Irvine. It features resort-style amenities, including an Olympic-length pool, vast outdoor spaces and global customers such as Alteryx and CoStar Group. Irvine Company’s other marquee Orange County project, Innovation Office Park, recently opened its second phase, adding seven new buildings totaling more than 256,000 square feet, a central outdoor pavilion and a dedicated building for its unique, move-in ready Flex+ program. Sega of America and dozens of other customers moved in during 2022, and the momentum is continuing in 2023 with five customers scheduled to move-in during the first quarter. The number exceeds the company’s leasing performance in 2021.
“We are seeing continued demand for premium office space with exceptional amenities, and a strong desire to bring teams together for collaboration and innovation to drive culture and growth,” said Jonathan Brinsden, Group President, Irvine Company Commercial Properties. “Irvine Company’s commitment to long-term ownership ensures we can offer both stability and flexibility to our customers, positioning them for success as they navigate a dynamic economic climate.”
Among the notable 2022 leases:
- Sega of America, Innovation Office Park
- Terran Orbital Corporation, Lakeview Business Center
- Coca-Cola North America, Spectrum Terrace
- Western Asset, Western Asset Plaza
- Katten, 2121 Avenue of the Stars
- AEW Capital Management, 2121 Avenue of the Stars
- AMD Advanced Micro Devices, Santa Clara Square
- pSemi, Canyon Ridge Technology Park
- Sheppard Mullin, 501 West Broadway Paseo Del Mar
- DLA Piper, The Plaza
- National Funding, Inc., The Plaza
390 companies leased more than 1.6 million square feet of Flex+ space over the last 12 months, part of Irvine Company’s unique Flex+ program, which offers move-in ready, premium workspaces. The unrivaled lease term flexibility, scalability and concierge-level service is the ideal solution for the immediate and evolving workplace strategies for companies of all sizes.
“One of the things that I love about Irvine Company is that as we’ve continued to grow, we’ve been able to upgrade within their outstanding office portfolio. That flexibility made Irvine Company very appealing,” said Vince Curcie, founder of Orange County Solar, which recently expanded from a Flex+ office in Irvine to Innovation Office Park.
The company’s workplaces are attracting dozens of cutting-edge tech, medical device, fintech, gaming and companies from all industries. The business corridor where Innovation Office Park is located was recently dubbed “Gamer’s Gateway” by a respected business publication.
“We’re so proud of our new Sega of America headquarters at Innovation Office Park, representing a new era for collaboration and creativity for the Sega of America family,” said Co-COO of Sega Corporation and CEO of Sega of America, Shuji Utsumi. “This new space helps to foster a genial and team-oriented culture to reinforce our purpose and create new stories and worlds that will entertain gamers for generations.”
Marcelo Gondim, Esq., founder and lead attorney at Gondim Law Corporation who signed a lease at 2121 Avenue of the Stars in Century City, said, “Having an outstanding office environment is critical for our culture, which is focused on passionately serving clients who trust us to navigate their most important matters. Irvine Company’s flexible options and premier customer service made the choice an easy one.”
Added Irvine Company’s Brinsden: “Irvine Company’s strong financial stability, commitment to investing and reinvesting in our workplaces, along with our customer-centric focus allows us to tailor workplace solutions that evolve with our customers as their workstyles and needs advance.”
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, reinvestment 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 premier workplaces in Orange County, Los Angeles, Silicon Valley and San Diego, as well as iconic towers in Chicago and New York. Irvine Company leads the industry with a forward-looking mindset and commitment to creating thriving communities.