- Leasing and demand for premium office space remains strong across Orange County, Los Angeles, San Diego and Silicon Valley
- Company leases nearly 2 million square feet of ‘Flex’ space
- Irvine Company sees double-digit uptick in post Labor Day SoCal customers returning to office
- ‘We create spaces that bring people together to succeed’
IRVINE, Calif. (September 26, 2022) — Irvine Company announced today it leased more than 10.4 million square feet of premium office space in California from September 2021 to August 2022 to more than 1,000 companies.
The customers include global leaders in technology, biotech, lifesciences, mobility and gaming, financial services, as well as start-ups and mid-size companies. Nearly 20% of the leasing was “Flex Workspace+,” which offers move-in ready spaces starting at 2,000 square feet.
One of few developers to push forward with new development during the pandemic, Irvine Company enjoyed strong leasing at its recently opened projects. Its existing high-rise buildings and campuses continued to draw significant activity. The company continues to see an influx of employees returning to their offices after Labor Day weekend – with a double digit uptick throughout its Southern California portfolio, officials said.
“Our long-term approach to creating places that bring people together to succeed gives our customers a critical advantage in a dynamic environment,” said Jonathan Brinsden, president, Irvine Company Office.
The first two phases of Spectrum Terrace at Orange County’s innovation epicenter, Irvine Spectrum, are fully leased. The company’s workplaces are attracting dozens of cutting-edge tech and gaming companies, such as SEGA of America, Inc., at Innovation Office Park, which is located along an Irvine business corridor recently dubbed “Gamer’s Gateway” by a popular business newspaper.
“We really wanted to find a space that matched the creative sensibilities that we have as a team,” said Tim Morten, Production Director & CEO of Frost Giant Studios. “Innovation Office Park wound up being the perfect combination of style and also amenities…it’s perfect.”
Irvine Company’s San Diego portfolio continues to experience significant activity with new and existing customers, including Gordon Rees Scully Mansukhani and Soloman Ward Seidenwurm & Smith in Downtown.
Irvine Company’s Flex Workspace+ program offers a simplified leasing process and dedicated workplace strategists to ensure every company finds a space that aligns with their unique needs. With terms starting at six months, Flex Workspace+ makes it easy for companies to scale their space in Irvine Company’s expansive portfolio. Over 500 companies leased more than 1.9 million square feet of Flex space over the last 12 months.
“One of the things that I like about Irvine Company is that if we continue on the same growth trajectory, then we can upgrade within Irvine Company. That flexibility made Irvine Company very appealing,” said Vince Curcie, founder of Orange County Solar, who moved into a Flex Workspace+ office in Irvine.
The Newport Beach-based real estate company is well positioned as companies seek premium workspaces that draw people in and contribute to their success.
“This sought after location and the exceptional quality elevates our workplace,” said Syed Mehdi, president and chief compliance officer at SSI Investment Management LLC, which leased 11,600 square feet at 2121 Avenue of the Stars in Los Angeles.
“The combination of our industry-leading approach to personalized service, experience-driven amenities, and unrivaled flexibility allows our customers to focus on their business while providing the best workplace experience for their employees,” said Brinsden.
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.