Muller Signs Tenants to $41M in Office Leases

LAGUNA HILLS, CA-The locally based Muller Co. has signed tenants to 180,000 square feet of leases valued at $41 million that fill one office campus to 100% occupancy and another to 88%. The recently completed transactions include new leases and lease renewals at Torrey Pines Court in La Jolla in San Diego County and Main Street Town Center in the Orange County city of Santa Ana.

The property that is now 100% leased is Torrey Pines Court at 3366 N. Torrey Pines Court in La Jolla—a 200,000-square-foot, five-building office park, where the newly completed leases total 118,000 square feet. The Muller Co bought Torrey Pines Court in 2005 in a joint venture with Rockwood Capital. At the close of escrow, the project was 56% leased and had severe functional challenges, according to Muller, which completed a $26 million renovation on three of the existing buildings.