Newport Beach-based Real Office Centers (ROC) has now voluntarily terminated its lease at three of its remaining four OC locations, according to its landlord, the Irvine Co.
ROC rents co-working spaces in Orange County, all in buildings owned by Irvine Co. The landlord had filed five lawsuits to evict ROC for delinquent rent at all of its OC locations.
On Monday, startups and other businesses who sub-leased space from ROC at its 23 Corporate Plaza location in Newport Beach got a notice that Irvine Co. arranged for Irvine-based Premier Business Centers to take over for ROC so the companies could operate un-interrupted.
Today, the Irvine Co. announced that the same scenario was playing out at two other locations: the ROC-leased office spaces at 15615 Alton Parkway in the Irvine Spectrum and at 120 Newport Center Drive. About 450 small companies have been affected, according to Irvine Co.
Repeated attempts to contact ROC Chief Executive Ron McElroy have been unsuccessful.
Irvine-based Premier Business Centers - another player in the co-working market, with locations in ten states - has taken over all three ROC-vacated locations this week.
The only location that ROC is continuing to operate is at The Vine in University Research Park location. ROC occupies approximately 21,628 square feet at this location – with both open co-working space and private offices - at 5151 California Ave. and uses an outdoor area in the back for networking events, pitch contests, investor forums and social events.