According to the terms of the five-year agreement, the tenant will expand its space by 6,500 sf at the 241,000-sf building. The 12-story office facility is located at 575 Anton. It is currently 90% occupied, with tenants including Sterling Alliance Group, Summit Motor Management, CompuNet and Bock Communications.
The landlord, McCarthy Cook, was represented in-house. Chip Wright, Gregg Haly and Omar Dauod of CB Richard Ellis' Newport Beach office represented the tenant, Pacific Communications. Pacific is a full service provider of healthcare communications, which specializes in marketing development, medical communications, branding, advertising and promotion.
The renewal follows on the heels of three lease transactions in Orange, as reported yesterday by GlobeSt.com. In the largest of the three deals, the medical insurance company Word & Brown has signed a five-year expansion lease for 54,717 sf at the Orange Financial office building. The deal is valued at $6.45 million. Health insurance company Medical Specialties Managers also renewed its lease at the building. The five-year, $1.05 million lease is for 9,531 sf. The third transaction was for 22,932 sf at the Orangewood Office Center. The three-year lease, signed by St. Joseph Professional Services Enterprises, is valued at $1.4 million.
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