● Leases in former Broadcom space total more than 80K SF
● Irvine Company and new customers investing more than a combined $100 million in upgrades, including outdoor, digitally-enabled workspaces, conference centers, a chef-driven café, state-of-the-art fitness and more
IRVINE, Calif. (February 18, 2019) – In a move designed to accelerate the local innovation ecosystem, the Irvine Company announced today that UCI Applied Innovation will expand its presence at UCI Research Park, along with University Lab Partners, a nonprofit program of The Beall Family Foundation.
UCI Applied Innovation is a dynamic, innovative central platform for the Orange County entrepreneurial ecosystem which includes the UCI campus, entrepreneurs, inventors, investors and the business community. Together they collaborate and commercialize discoveries designed to benefit humankind and have an economic impact that leads to innovations, growth and job creation.
Currently in 46,000 square feet, UCI Applied Innovation, along with University Lab Partners, has leased roughly 84,000 square feet and will occupy the 1st and 2nd floors at 5270 California Avenue, space formerly occupied by Broadcom. University Lab Partners will occupy the 3rd floor of the same building and plans to create a wet lab incubator for entrepreneurs to rent lab space to commercialize their research and inventions. Currently, UCI Applied Innovation is in talks for additional space.
“UCI Research Park has provided the perfect setting to generate the spark that inspires creativity,” said Dr. Richard Sudek, UCI Applied Innovation’s executive director and UCI’s chief innovation officer. “The reimagined new space will undoubtedly provide the backdrop needed to help us accelerate the growth for young businesses and UCI IP-based technologies. As an anchor for the reimagined UCI Research Park, we are excited about creating even more opportunities for industry to engage with an R1 research university and help drive the startup economy in the region.”
UCI Applied Innovation is moving from their nearby current location at 5141 California Avenue.
Ken Beall, spokesperson for The Beall Family Foundation, added, “By leveraging the resources and intellectual capital of UC Irvine, University Lab Partners seeks to encourage the entrepreneurial spirit among some of the nation’s top researchers and inventors. UC Irvine has built a global reputation on its academic strengths and pioneering curriculum and together, we are launching the next generation of innovators who are making a positive impact by translating research into companies and products to benefit our community and greater society.”
“This a monumental moment in UCI Research Park’s evolution,” said Steve Case, executive vice president, Irvine Company Office Properties. “UCI Applied Innovation has already created deep ties between the university and the business community. The expansion of The Cove and the addition of University Lab Partners will distinguish UCI Research Park as a unique place for business to collaborate with a top-tier university to solve problems, create opportunity and spur business and regional economic growth.”
Formerly called University Research Park, the 185-acre business park is benefiting from $100 million in reinvestment and tenant improvements. The enhancements include the addition of The Commons at UCI Research Park, a one-acre, fully equipped and digitally-enabled open-air venue for team collaboration and cutting-edge events and exhibitions.
The campus is being reimagined to emphasize an open flow of sophisticated interiors, a chef-driven café, fitness centers and expansive outdoor spaces to stimulate breakthrough innovation.
The state-of-the-art conference center features high-tech AV equipment, a spacious entry and reception area, flexible seating for more than 100 attendees, and a large kitchen area for catering opportunities.
The reinvestment will also bring Irvine Company’s signature wellness amenity KINETIC to the campus. KINETIC offers customers a unique, integrated approach to workplace wellness featuring a private state-of-the-art fitness center, group fitness, Zagster bike share program, basketball and volleyball courts, as well as walking and cycling routes. Additional onsite amenities include Starbucks Coffee and Specialty’s Café & Bakery with Peet’s Coffee & Tea.
UCI Research Park is home to more than 75 companies and more than 8,000 employees, including iconic companies Cisco Systems, Intel and Toshiba America and is conveniently located off the 73 Freeway, minutes from John Wayne Airport, and a short drive from luxury apartment communities, Fashion Island, The Island Hotel and the renowned Resort at Pelican Hill.
About Irvine Company Office Properties
As a long-term owner who continuously reinvests in its properties and services, Irvine Company has evolved the traditional office to something much more: vibrant workplace communities. A place where collaboration is encouraged, and creativity is enabled to elevate business success. The company serves more than 3,000 customers in 50 million square feet of premier workplace communities in Orange County, Los Angeles, Silicon Valley and San Diego, as well as iconic trophy towers in Chicago and New York. Timeless design and quality craftsmanship is paired with Irvine Company’s permanent time horizon, customer-centric brand and pride of ownership.
About UCI Applied Innovation
As a long-term owner who continuously reinvests in its properties and services, Irvine Company has evolved the traditional office to something much more: vibrant workplace communities. A place where collaboration is encouraged, and creativity is enabled to elevate business success. The company serves more than 3,000 customers in 50 million square feet of premier workplace communities in Orange County, Los Angeles, Silicon Valley and San Diego, as well as iconic trophy towers in Chicago and New York. Timeless design and quality craftsmanship is paired with Irvine Company’s permanent time horizon, customer-centric brand and pride of ownership.
Media Contact:
Bill Rams
[email protected]
(949)200-6107
