National Auto Loan Network has inked a deal to relocate its headquarters from Newport Beach to Tustin.
The new 11,456-square-foot lease for the auto lending company is for most of the ground floor of a building at Flight at Tustin Legacy, the first phase of which delivered about a year ago.
The deal pushes occupancy at the largest ground-up creative office campus in Orange County to 50%.
A slightly larger lease should be announced soon, sources tell the Business Journal.
Newport Beach-based inXile Entertainment Inc., a video game developer that was acquired by Microsoft Studios last year, is nearing a deal for a 15,000 square foot lease at Flight, according to sources.
The deal for National Auto Loan marks an expansion for the lending company, which previously occupied about 4,400 square feet at 3388 Via Lido.
JLL’s David Cantwell represented NALN in the lease, while CBRE Group Inc. represented Lincoln Property Co., the owner and developer of the office project.
“We wanted a new headquarters facility that better represented our culture, provided room for growth and featured abundant amenities for our team,” said Marco Rasic, chief executive and president of NALN, whose team of loan officers and support staff is currently working “from a safe, remote location.”
The lender said it offers those with financial hardships due to the coronavirus the ability to refinance their auto loans from their homes, to reduce monthly payments, and that they have up to 90 days to make a first payment.
50% Occupancy
The initial phase of construction at Flight includes two 90,000-square-foot buildings, one 93,000-square-foot building, a 145,000-square-foot office and four smaller-sized, single-tenant buildings, running from 6,500 to 13,000 square feet.
Those eight buildings will hold upward of 2,500 employees when leased.
NALN’s new building at 1735 Flight Way is next to The Mess Hall, a food-centric amenity with about 10 food and beverage retailers.
The first office tenant to move in to Flight was fintech Happy Money, which inked the largest deal to date, totaling 72,000 square feet.
Other tenants include Branded Online, a marketing company that is building out its new 20,432-square-foot headquarters; and coworking firm Work Well Win, which will open its first Orange County location in a 25,438-square-foot space.
Several other additional leases are in the works, but may be delayed due to current uncertainties in the market caused by coronavirus, according to real estate sources.
