IRVINE, Calif. — Irvine Company today announced a strong month of activity in March, leasing 1.4 million square feet of premium office space in Orange County, Los Angeles, San Diego, Silicon Valley, Chicago and New York. This marks the most amount of office space leased in a one-month period for Irvine Company in the past five years.
This momentum in 2024 follows Irvine Company’s strong 2023 performance as the company wrapped up the year with 91% of its portfolio leased – 10% above the national average in major U.S. cities according to Moody’s Analytics.
“Our strong leasing activity highlights the continued flight to quality and the importance of choosing not only where your company works, but who your landlord is. When leasing with Irvine Company, customers benefit from our industry-leading financial stability and the breadth of our portfolio that allows us to meet the evolving workplace needs of businesses of any size,” said Roger DeWames, President of Irvine Company Office. “As premium workplaces outperform the broader office market, we look forward to continuing to provide our customers and their employees with exceptional service and amenities, and regularly investing in our portfolio.”
Last year, more than $650 million of capital was invested across Irvine Company’s workplaces – including reinvestment capital, operating capital, tenant improvements and more – to elevate the workday experience and provide best-in-class service so customers can focus on their business.
Notable March 2024 leases include:
- 87,000 square feet, Orange County
- Balt USA, 59,000 square feet, Orange County
- Western National Securities, 44,000 square feet, Orange County
- Futurewei Technologies, 18,000 square feet, San Jose
- White & Case LLP, 64,000 square feet, Chicago
White & Case, a leading global law firm and Irvine Company customer, leased 64,000 square feet at 300 North LaSalle in Chicago.
“This new space reflects White & Case’s continued upward momentum in the Chicago legal market, and our commitment to offering a world-class working environment to our people and leading legal services to our clients,” said the Firm’s Chicago Office Executive Partner, Matthew Devine. “Our Chicago office continues to go from strength-to-strength, and working closely with Irvine Company, our new space reflects this growth. It will serve as a point-of-entry in the Midwest market to the full array of preeminent legal services that we provide to clients around the world.”
Flexible leasing also continues to be a trend in 2024. Irvine Company launched its new Flex+ website where customers can easily find private, move-in ready office space with no upfront capital. More than 40 companies leased 213,000 square feet of Flex+ space in March, with strong demand from small and medium-sized businesses.
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.
