LAGUNA HILLS, CA—Making sure employees are happy at work is a major driver behind the office-amenities arms race, in which what may once have seemed like a crazy idea is no longer, Lincoln Property Co. leasing agent Kevin McNeil tells GlobeSt.com. McNeil handles the leasing for Oakbrook Plaza, a 120,000-square-foot, class-A office asset here, purchased a year ago by Lincoln and its partner Angelo Gordon.

At the time of purchase, the asset was approximately 75% leased with rents at $2.35 per square foot. Over the past year, the leasing team has completed more than 15 leases and increased occupancy up to 97%, and rents are now at $2.85 per square foot. Among the reasons for the increase in occupancy and rental rates, according to Lincoln, are the owners' investment in outdoor collaboration spaces, on-site amenities, “back of house” upgrades and other improvements; drafting off of Irvine Spectrum as rents and occupancy increase there; benefiting from area redevelopment (retail, apartments, restaurants, etc.) both at nearby Five Lagunas Mall and the area in general; and improvements in market conditions, where tenants are making decisions to expand, open new offices and relocate with longer term commitments.

We spoke with McNeil about the project, what owners looking to reposition Orange County office assets should keep in mind and which choices should be avoided.