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Irvine Company

Irvine Company Sees Continued Flight to Quality, Leasing 10.6 Million Square Feet of Office Space over the past 12 Months

  • Irvine Company Office Properties finishes fiscal year nearly 90% leased across portfolio, well above industry average of 79.4%, according to Moody’s Analytics
  • The Company’s financial strength, stability and commitment to investment drives leasing momentum with $637 million invested across the portfolio
  • Financial services, legal services and manufacturing are the top three industries to drive leasing activity
  • Flexible workspaces also continue to see strong demand, with 1.8 million square feet leased

IRVINE, Calif. (July 31, 2025) — Irvine Company today announced that its portfolio of premium office space across Orange County, Los Angeles, San Diego, Silicon Valley, Chicago and New York closed the 2025 fiscal year (July 1, 2024 – June 30, 2025) at nearly 90% leased with 10.6 million square feet leased. This leasing momentum follows another strong year of activity with 10.4 million square feet leased in the previous fiscal year.

These results outperform the U.S. office market overall lease rate by 10%, according to Moody’s Analytics. As companies continue to evolve their workstyles and workplace strategies, Irvine Company remains a leader in customer retention. The Company completed the signing of key renewals totaling more than 6 million square feet in FY25. This demonstrates customers’ demand for high-quality workplaces and value in maintaining an ongoing relationship with their landlord, particularly in terms of leasing, service, and support.

“Our results show the continued flight to quality and stability in the office market combined with strong demand for centrally located workplaces where our customers and their teams can have the ideal live, work and play lifestyle,” said Roger DeWames, President of Irvine Company Office Properties. “With Irvine Company’s financial strength, we’re able to provide exceptional workplaces with elevated customer service and flexible lease options to meet each of our customers’ unique business needs and workplace strategies.”

Over the past 12 months, Irvine Company has invested $637 million across its office portfolio, covering reinvestment and operating capital, workspace improvements, amenity offerings and more. This includes:

The Company also reported continued strong demand for its Flex+ product, which is designed primarily for small and mid-sized businesses. Flex+ offers premium, move-in ready suites in the best locations and a simplified experience that makes it easy for companies to move in quickly and scale easily. Over the past 12 months, Irvine Company leased 1.8 million square feet of Flex+ space and plans to invest $200 million in Flex+ over the next five years.

“We’ve moved three different times in the last four years, and the only reason why we’re able to accomplish that is because we’re with Irvine Company,” says Vince Curcie, CEO and Founder of Orange County Solar. “We love the quality and reputation of Irvine Company and their willingness to work with us so we’re never locked down or confined.”

Financial services, legal services and manufacturing were the top three industries to drive leasing activity across Irvine Company’s portfolio. According to Cushman & Wakefield, legal leasing volumes have exceeded 2019 levels by 35% over the past five quarters. The legal sector continues to migrate to Class A workplaces that offer flexibility, hospitality-style amenities and brand expression opportunities, according to the report.

Among the notable FY25 leases:

Orange County

  • JPMorgan Chase, 173,000 square feet
  • Becton, Dickinson and Company, 116,000 square feet
  • Alleviate Financial Solutions LLC, 106,000 square feet
  • Bank of America, 105,000 square feet
  • Medtronic, 102,001 square feet
  • Willow Laboratories, 63,440 square feet
  • Tarsus Pharmaceuticals, 60,000 square feet
  • Ventura Foods, 59,000 square feet
  • Acrisure, 59,000 square feet
  • MBK Real Estate, 46,000 square feet
  • St. Joseph Health System, 44,820 square feet
  • Callahan & Blaine, PC, 44,789 square feet
  • Serendipity Labs, 40,000 square feet
  • Primoris, 31,706 square feet
  • Arbonne International, 22,000 square feet
  • Meritage Homes of California Inc., 20,130 square feet

Los Angeles

  • Signature Estate & Investment Advisors LLC, 32,914 square feet
  • Evoke Advisors, 24,470 square feet
  • Artists First, Inc., 22,785 square feet

San Diego 

  • Vistage Worldwide Inc., 39,280 square feet
  • The Home Depot Design Center, 36,820 square feet
  • Regus, 19,180 square feet
  • Premier Office Centers LLC, 17,129 square feet
  • BDO USA, 15,730 square feet
  • Duffy Kruspodian LLP, 10,180 square feet

Silicon Valley

  • Goertek Electronics, 72,271 square feet
  • Ericsson, 53,548 square feet
  • Cyngn Inc., 39,628 square feet
  • GreenWaste Recovery LLC, 20,512 square feet

Chicago

  • PricewaterhouseCoopers LLP, 282,577 square feet
  • Mayer Brown LLP, 271,807 square feet
  • GTCR, 103,071 square feet
  • Barnes & Thornburg LLP, 95,475 square feet
  • CBRE, 55,000 square feet
  • Arnold & Porter Kaye Scholer LLP, 40,300 square feet
  • Alexander Group, 25,625 square feet
  • Evercore, 15,755 square feet
  • MUFG Bank Ltd. 17,649 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, reinvestment and personalized service, Irvine Company creates environments that cultivate collaboration, creativity and customer success. The company serves more than 3,000 customers in 53 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.

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