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Two Leases Raise Hopes for South County Rebound

ORANGE COUNTY, CA-A computer-training school and a communications company sign pacts worth a combined $4.1 million at Pacific Corporate Park. Brokers say the area, with a 16% vacancy office rate, appears to be strengthening.

By David W. Myers | Updated on May 31, 2001

ORANGE COUNTY, CA-Two leases worth a combined $4.1 million have been signed at Pacific Corporate Park, boosting the project’s occupancy level to 80% and raising hopes that the office market in the ailing southern end of the county is beginning to rebound.

In the first lease deal, Computer Education Institute agreed to take 25,000 sf of office space at the business park for seven years. The contract is valued at about $3.2 million.

The computer-training school plans to relocate from its current headquarters in Lake Forest. Scott Garmon and Mark McAdams of Cushman & Wakefield’s Irvine office represented the park’s owner and developer, privately held Davis Partners of Newport Beach. Ali Asgari of Century 21 Automated negotiated for the computer school.

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