The Irvine Company plans to spend millions of dollars to transform four office campuses in central Orange County.
The Newport Beach-based landlord will pour $24 million into planned upgrades at Jamboree Center, Pacific Arts Plaza, Irvine Business Center and 660/680 Newport Center Drive.
Irvine Company announced the office investments after reporting more than 1.8 million square feet of lease signings at Orange County buildings since July 1.
Most of the $24 million will be spent at Jamboree Center, where Irvine Co.’s planned upgrades include a new amenity hub and updated space for meetings and events.
The amenity hub would include a two-level Kinetic gym, a workplace fitness and wellness center created by Irvine Co.
Plans also call for an updated lobby, upgraded entries and new dining.
Orange County’s largest landlord plans to spend $17 million on upgrading Jamboree Center, which is located at 3 Park Plaza in Irvine.
Sees ‘Flight to Quality’
Irvine Co. plans to spend another $7 million on meeting and event spaces at Pacific Arts Plaza and the fitness center at and entries for Irvine Business Center. Also in the works: a new media wall, updated landscaping and modernized lobby at 660/680 Newport Center Drive.
Pacific Arts Plaza is located at 3200 Park Center Drive in Costa Mesa, while Irvine Business Center is at 7595 Irvine Center Drive.
660/680 Newport Center Drive faces Fashion Island in Newport Beach.
The planned upgrades at Irvine Co.’s office buildings follows a flurry of lease deals the landlord signed with various tenants since July 1.
Those lease signings include JPMorgan Chase (173,000 square feet) at Jamboree Center, Becton, Dickinson and Co. (116,000 square feet) at Spectrum Terrace, Bank of America (105,000 square feet) at 520 Newport Center Drive, Willow Laboratories (63,440 square feet) at UCI Research Park, Ventura Foods (59,000 square feet) at Spectrum Terrace, Acrisure (59,000 square feet) at Pacific Arts Plaza and St. Joseph Health System (44,820 square feet) at Discovery Park.
The signing included new and re-signed leases.
Irvine Co., in a statement, said the lease signings and renewals highlighted “the flight to quality in Orange County’s commercial real estate market and sustained momentum across Irvine Co.’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,” Roger DeWames, president of Irvine Company Office Properties, said in a statement.
Irvine Co. manages 54 million square feet of workplaces in Orange County, Los Angeles, Silicon Valley, San Diego, Chicago and New York.
