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New Office Leases Top 70,000 SF

IRVINE, CA-A not-for-profit foundation signs the largest of the seven deals in a 29,000-square-foot commitment here. The others reflect the availability of sublease space.

By Bob Howard | Updated on April 16, 2009

IRVINE, CA-Tenants have signed seven office leases totaling nearly 67,000 square feet in a series of deals that reflect both the availability of sublease space in the current market and the potential for tenants to move up to higher-quality space because of lower office rents. A not-for-profit foundation signed the largest of the five deals in a 29,000-square-foot commitment in Irvine, while the other tenants included a dental practice, a computer gaming company, an automotive marketing firm, a commercial real estate brokerage firm and a law firm.

The not-for-profit is SouthCoast Foundation, which signed a 10-year lease for 29,000 square feet at 2727 Campus Dr. in the largest of the five transactions. The space will house the church, pre-school and counseling/recovery center for the foundation, which coordinates various community-based activities and programs throughout Southern California.

SouthCoast was represented by Joe Bevan, a vice president at Jones Lang LaSalle. The landlord, Greenlaw Partners, was represented by Brian Garbutt of Lee & Associates.

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