The new tenants are Winfire Inc. a software developer and DSL service provider to Internet users; Qwest Communications, an Internet-based data, voice and image communications company; and Colo.com, a provider of Neutral Central Offices (NCOs) for the deployment of next generation networks.
LBA was represented by CMG Real Estate's Irvine office in each of the transactions. Represented by Mohr Partners' Newport Beach office, Winfire signed a 10-year lease for three floors totaling 47,500-sf. Brokers from Grubb & Ellis' Anaheim office and CB Richard Ellis' Anaheim office represented Qwest, which signed a 7.5-year lease for 22,000 sf. Colo.com was represented by Cushman & Wakefield's Irvine and San Francisco offices. The firm signed a 10-year lease for the entire ground floor, totaling 27,261 sf.
Acquired as part of a nine building, 1.4 million-sf deal with Shuwa Investments in July 1999, LBA has spent $3 million in renovations over the past 10 months on the building, including new exteriors and building system upgrades, such as cutting-edge wireless and fiber-optic communication networking.
"Our company's expertise lies in acquiring well-located buildings, such as 19000 MacArthur, and upgrading and enhancing the properties to appeal to major corporate, technology and financial tenants," said Steve Layton, principal with LBA. "What attracted these new companies was the building's quality, high-profile location adjacent to John Wayne Airport, signage opportunities and the connectivity to several fiber-optic carriers."
Qwest Communications plans to occupy the building this month, while both Winfire and Colo.com are scheduled to move in later this year.
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