Law Firms Boost Office Market by 124,000 SF

IRVINE, CA-Four law firms have signed new office leases totaling 124,214 sf that continue the expansion by professional services firms in the area surrounding the John Wayne Airport, according to CB Richard Ellis. Brokers who worked on the deals for CBRE say that the airport submarket is emerging as one of the most concentrated hubs of professional services firms in the region.

The four firms and the space they signed for included Greenberg Traurig for 38,207 sf; Pillsbury, Winthrop Shaw and Pittman for 17,773 sf; Orrick, Herrington & Sutcliffe for 22,764 sf; and an 11,000-sf expansion by Howrey LLP, which represents the firm’s second expansion in six months for a total of 45,470 sf.

CBRE’s Kevin Bender, who represented each of the tenants in these transactions, comments that the deals “demonstrate the strength of the legal tenant base in the Orange County market.” Thanks to growth by law firms and other providers of professional services, Orange County has evolved into “one of Southern California’s major professional services hubs,” Bender says.