Cylance claims naming rights to 400 Spectrum skyscraper, now open for business

September 13, 2017

The twin to Orange County’s tallest building officially opened for business Wednesday with a media unveiling overlooking South Orange County from about 300 feet up in the air.

The 323-foot-tall, 20-story 400 Spectrum Center office tower already is about 44 percent leased with seven tenants, said Steve Case, executive vice president for office properties at Irvine Company, Orange County’s biggest landlord. Its twin, which was completed about 1 1/2 years ago, is about 93 percent leased, with Mazda’s North American headquarters as its lead tenant.

Case said cyber-security firm Cylance will be the new tower’s lead tenant, leasing floors 6 through 11 for a total of about 135,000 square feet. That’s more than triple the space the 800-employee tech-innovator now rents at Irvine Towers. The firm likely will move to the new building sometime next winter, said Shaun Walsh, Cylance’s marketing vice president.

“When you talk about the people that we need in order to improve and grow this business, these are the star athletes of the intellectual world. … When we’re looking at the top doctoral candidates and the top Ph.D.s in computer science, we need a facility that shows them why they should come to work for us,” Walsh told a gathering of reporters and dignitaries on 400 Spectrum Center’s 21st floor. (The building doesn’t have a 13th floor.)

“Apple, Google, all these major artificial intelligence companies are out there recruiting this same highly selective talent pool,” Walsh added. “This facility  is one of our strategic weapons to get them to come to Irvine.”

Irvine Co. officials likened the 200 and 400 Spectrum Center buildings to a jewel box during the early stages of construction. Sheathed in floor-to-ceiling Viracon glass panels, 400 Spectrum Center — like its twin — looks as if its floors float up into the sky, with the main structural support coming from a concrete column at the building’s center. Case compared the new tower on Wednesday to Apple’s new iPhone X because of its high-performance, bluish outer panels. One executive said the panels were hard to get because of competition with One World Trade Center in Manhattan, which used the same panels.

Twenty stories up, the 428,000-square-foot tower overlooks the Irvine Spectrum shopping center, the confluence of the 5 and the 405 freeways, Orange County Great Park, the Santa Ana Mountains and the Orange and Los Angeles county cityscapes in the distance.

“If you look outside the windows … you really get a feel as you walk around the building what the Spectrum is all about,” Case said. “It’s not only a beautiful place, it’s also one of the most desirable business communities really in the region.”

In addition to having 40 restaurants, shopping and about 3,800 apartments within walking distance, 400 Spectrum Center will have its own cafe, a gym and an outdoor, Wi-Fi enabled outdoor area called The Commons.

In addition to Cylance, Irvine Co. signed Denver-based SendGrid, a message and email delivery and management firm, which has leased the entire 22,000-square-foot fourth floor. SendGrid, which currently has an office in Orange, plans to move to the new tower sometime next year. Other pre-leased tenants include accounting firms and a mortgage firm.

Rents in the building will range from about $4.35 to $5.50 per square foot, depending on the floor and other variables, Case said. The average office rent in Orange County during the second quarter was $2.75 per square foot, according to commercial brokerage CBRE.

Rents at 400 Spectrum Center are about 9 percent higher than lease rates for 200 Spectrum but still are well below the Irvine Co.’s Fashion Island high-rise tower at 520 Newport Center Drive. Rents there range from about $5 to $9 per square foot.

Case said the Irvine Co. knew its new high-rise office towers would attract law firms and financial service companies but was pleased to see that it’s also drawing high-tech companies, which tend to prefer large, low-rise complexes like the Google and Apple campuses.

Office landlords today need to listen to the Googles and Apples of today and offer the types of space they need, offices that will help them recruit and retain top talent, that will drive innovation and that align with their brand and culture, Case said.

“The design of the building and the surrounding community really brings what a lot of modern companies like Cylance are looking for today in a workplace,” he said.


Originally published on September 13, Orange County Register