Irvine Company announced that its premium office spaces in Orange County, Los Angeles, San Diego, Silicon Valley, Chicago and New York were over 90% leased at the end of the 2024 fiscal year on June 30. This represents a significant increase of nearly 12% in square footage compared to the previous fiscal year. The company also reported renewing leases for approximately 6.9 million square feet.
President of Irvine Company Office Properties Roger DeWames stated that these results demonstrate a high demand for premium office space and emphasize the importance of choosing not only where your company works but also who your landlord is. He added that with Irvine Company’s financial strength and stability, they are able to invest in their workplaces and offer flexible lease options to provide companies with an ideal workday experience.
In order to continuously improve their portfolio offerings and amenities for tenants’ satisfaction, Irvine Company has invested more than $560 million across its properties over the past year including reinvestment capital as well as operating expenses such as workspace improvements and amenity upgrades.
This news was originally published by Connect CRE.
