Irvine, Calif. (June 3, 2008) – The Irvine Company announced today that Specific Media, the largest independent online advertising network, has signed a lease to occupy 38,250 sq. ft. at Jamboree Center in Irvine.
The lease more than doubles the size of Specific Media’s Orange County headquarters.
“We are pleased to have the flexibility to accommodate an outstanding company like Specific Media, as it continues its record-setting growth pattern,” said Val Wheeler, President, The Irvine Company Office Properties.
Specific Media is the largest independent online advertising network in the U.S. and also one of the fastest growing. Its revenue increased more than 300 percent in 2007 compared to 2006. The company also experienced unparalleled year-over-year growth in the comScore rankings, with the reach of its online advertising network growing 57 percent since February 2007. Specific Media now serves online ads to more than 140 million unique users, equating to 77 percent of Internet users in the United States. Additionally, Specific Media recently acquired Adviva, a leading U.K. ad network, gaining access to the European ad market and extending its reach to more than 220 million consumers globally.
The company is expanding its Orange County office presence from 15,000 sq. ft., and will occupy a second full floor. Terms of the lease were not released.
“Having been satisfied with the office location, facilities and customer service offered by The Irvine Company over the past four years, we are pleased to be able to remain with the property as we outgrow our current space,” said Roy Luna, CFO of Specific Media. “The Irvine Company’s flexibility makes managing the challenge of our rapid growth seamless, and allows our employees to focus on the most important goals – providing brand advertisers and publishers alike with the best service and highest ROI.”
Tim Helgeson and Greg Tippin from Newmark Knight Frank real estate advisers represented Specific Media. The Irvine Company represented itself.
About Specific Media
Specific Media, the advertising industry’s largest independent online advertising network, enables advertisers to target consumers throughout North America and Western Europe based on demographics, behaviors, geographic locations and/or the contextual relevance of websites visited. Specific Media works with many of the Fortune 500 brands including seven of the top 10 companies. The company’s Premium Network reaches more than 220 million consumers globally each month. Since 1999, Specific Media has connected advertisers with target audiences across consumer branded publishers. Visit www.specificmedia.com.
About the Irvine Company
The Irvine Company Office Properties owns and operates a portfolio of about 400 high quality buildings in some of California’s most prestigious locations. The buildings range from high-rise towers with ocean views across from major shopping centers to thoughtfully planned campus environments in suburban areas. They are located in some of the most beautiful and business strategic locations in California, including Newport Beach, Irvine, San Diego, West Los Angeles and Silicon Valley. In each market, The Irvine Company also offers enough space and flexibility for its tenants as they grow.
The company’s long-term ownership and reinvestment philosophy ensures companies operate in buildings maintained to the highest levels possible. It also assures a stable tax base and a rare environment of stability, consistency and on-going quality. Regarding customer service, the company’s standards are so high, comprehensive and seamless that tenants take it for granted.