The Irvine Co. reached an agreement with Newport Beach-based Real Office Centers on one of the properties it had filed an eviction-based lawsuit against the company over, a Irvine Co. spokesman told the Business Journal. The agreement was for ROC’s 23 Corporate Plaza office in Newport Beach.
ROC was one of the first co-working companies to lease space to entrepreneurs in OC, opening its first location here in 2011. At its height, ROC had six locations in OC and 13 altogether, including San Diego, Los Angeles and Honolulu. It currently has four in OC.
The Irvine Co. continues discussions with ROC on matters at three additional properties for which eviction-based lawsuits have been filed, the spokesman said. A fifth lawsuit had been filed for ROC’s portion of the Airport Business Center in Irvine but was settled before trial, and the Irvine Co. allowed ROC’s lease to expire early so it could begin renovations to transform the property into The Launch, a creative-office property. The renovations are expected to be done by the end of the year, based on Irvine Co.’s website.
