William “Bill” Halford, president of The Irvine Company’s office division, has left.
Halford moved on to pursue other business opportunities, according to Irvine Co. officials.
Clarence Barker, president of the Investment Property Group for the Newport Beach-based company, is taking over Halford’s duties on an interim basis.
Barker also oversees the company’s apartment, retail and resort divisions, each of which has its own president.
Barker previously headed up the office division, spokeswoman Jennifer Hieger said.
“We expect there to be a smooth transition,” Hieger said.
Halford joined the Irvine Co. in 1994. He became president of the office division in 2001, and oversaw a growing unit with roughly 350 people.
He took over during the tough years of the early 2000s.
Back then, the company cut rates, offered shorter leases and worked to get tenants to renew before their leases were up.
In 2004, the Irvine Co. spent $240 million to refurbish its office buildings, apartments and shopping centers.
A timeline for finding a full-time replacement hasn’t been determined. The company has hired from within and from outside in the past.
Halford’s departure comes as the Irvine Co. has dramatically increased its presence in the local office market.
The Irvine Co. has been actively pursuing acquisitions of premier office buildings in and outside Orange County. It is believed to be behind close to a billion dollars worth of deals.
It has also begun construction of a pair of new office properties at the Irvine Spectrum.
In the past two weeks, the company finalized the purchase of the Irvine Center Towers from Philadelphia’s Cigna Corp. and Transwestern Investment Co. of Chicago, as well as Newport Gateway Center from Britain’s Equitable Life Assurance Society.
The company also believed to be in escrow on a pair of San Diego office buildings, including the city’s premier office property, One America Plaza. Those deals could cost the company more than $430 million if completed.
