Key Takeaways
- Irvine Company continues to experience strong leasing momentum with more than 1.8 million square feet of premium office space leased in Orange County since July 1
- JPMorgan Chase expands by 72,000 square feet and now leases 173,000 square feet at Jamboree Center
- Irvine Company continues to strategically invest in workplace amenities with $17 million allocated for the transformation of Jamboree Center in Irvine
IRVINE, Calif. (December 4, 2024) – Irvine Company today announced strong leasing activity in Orange County since July 1, 2024. The Company has leased more than 1.8 million square feet of office space to leading companies across multiple industries, including both new leases and renewals from major financial institutions, healthcare and life sciences companies, technology firms, insurance providers, and construction and engineering enterprises. This robust activity highlights both the flight to quality in Orange County’s commercial real estate market and sustained momentum across Irvine Company’s expansive portfolio.
“The leasing momentum we’re experiencing across our Orange County portfolio demonstrates the strong demand for high-quality workplaces backed by a landlord able to meet the evolving needs of the market. Our unique customer-centric approach to leasing, service and support is one of the primary reasons companies lease and renew with Irvine Company,” said Roger DeWames, President of Irvine Company Office Properties. “Irvine Company’s financial strength and stability enable us to regularly invest in our properties and create exceptional workplace experiences that accommodate the dynamic needs of businesses of any size, for any need.”
Irvine Company also announced a significant $17 million transformation of Jamboree Center in Irvine. The reinvestment includes plans for a new amenity hub, including a two-story KINETIC fitness center – the first of its kind in Irvine Company’s Orange County portfolio – and a new Venue for meetings and events that will have direct connection to the expansive outdoor workspace at 3 Park Plaza. The reinvestment will also modernize lobbies, update entries, and enhance the dining experience.
Notable leases executed since July 1 include:
- JPMorgan Chase, 173,000 square feet, Jamboree Center
- Becton, Dickinson and Company, 116,000 square feet, Spectrum Terrace
- Bank of America, 105,000 square feet, 520 Newport Center Drive
- Willow Laboratories, 63,440 square feet, UCI Research Park
- Ventura Foods, 59,000 square feet, Spectrum Terrace
- Acrisure, 59,000 square feet, Pacific Arts Plaza
- St. Joseph Health System, 44,820 square feet, Discovery Park
- Ghost Management Group LLC, 44,820 square feet, Discovery Park
- Primoris, 31,706 square feet, Irvine Business Center
Irvine Company’s continued investment in its properties has helped maintain consistent leasing activity across its Orange County portfolio and allows businesses to lease with confidence and find a workplace that fits their unique needs.
The additional $7 million+ of Orange County reinvestments include:
- Pacific Arts Plaza: New Venue meeting & events with connected outdoor workspace
- Irvine Business Center: Enhanced outdoor workspaces, fitness center and entry experience
- 660/680 Newport Center Drive: Enhanced outdoor workspace with media wall, landscaping and modernized lobby
“Pacific Arts Plaza is the ideal environment for our growing operations – a premium location that brings our teams together under one roof,” said Patrick Thomas, Southwest Managing Partner, Acrisure. “By uniting more than 200 employees from 10 different offices, we are fostering greater collaboration and efficiency that will not only strengthen our organization but also enhance the service and solutions we provide to our clients. At Pacific Arts Plaza, our employees can enjoy an abundance of walkable amenities in the area, while the building’s prominent signage and exposure allow us to strengthen our brand presence here in Southern California.”
About Irvine Company Office
Irvine Company elevates the workplace by combining inspired design, exceptional quality, innovative solutions and experience-driven amenities. Renowned for continual evolution, reinvestment and personalized service, Irvine Company creates environments that cultivate collaboration, creativity and customer success. The company serves more than 3,000 customers in 54 million square feet of workplaces in Orange County, Los Angeles, Silicon Valley and San Diego, with iconic towers in Chicago and New York. Irvine Company leads the industry with a forward-looking mindset and commitment to creating thriving communities.
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Media Contact
Gemma Stewart
562-544-5797