[IMGCAP(2)]

GlobeSt.com: Are hybrid products like this becoming more popular in the region?

Kelemen: You see the term creative being used very loosely. It's not just polished-concrete floors. We focus on the fact that amenities drive office space, and there's a trend in that. There's also a demand and willingness by employers to pay more for that type of space, by as much as 25% to 30% in rent. We believe that these types of spaces inspire people to bring a little more passion to work that results in increased productivity. It's become very well document, particularly among tech companies that have started this trend, that it helps to retain and attract talent, but they are also pushing the boundaries with how they want to be perceived as a company.

GlobeSt.com: What types of tenants do you hope to attract to this property?

Kelemen: Initially, we were going after the growing technology companies that were looking for quality space to provide modern amenities to their staff, but now we are seeing that it's not just this type of company that is interested. Even typical service industries such as law firms are interested in this space. It's spreading across a plethora of industries. How you feel at work drives everyone; we want to create an environment where people are happy to come to work. So, we're not targeting any particular sector; we can fit just about any sector into these buildings.

GlobeSt.com: What other trends are you noticing in the Orange County commercial real estate market?

Kelemen: We're working with top architects here, and they tend to bring the flavor of hospitality to the office space. We're starting to see a lot of these buildings emulating living rooms from home, hangout areas where people can come and congregate without feeling like they're under the watchful eye of their boss or that they have to huddle to talk about whatever they want.

GlobeSt.com: What other projects do you have on the horizon?

Kelemen: We have acquired or are in the process of acquiring almost 450,000 square feet of space, and we have almost 100,000 square feet in development including 40,000 square feet in a corporate park on Jamboree, another in Valencia and the IBC and another 22,000-square-foot building near the Airport. Some of these buildings are just tired, old buildings that have been long overdue for a redux. In most cases, we're redoing everything from the exterior to the interior to create space that companies want with amenities. We also have a planned 160,000-square-foot ground-up development in South County, but we are focusing on redevelopment. We may deliver more ground-up space next year.