Newmark has successfully leased nearly 90,000 square feet of office space at two properties in Irvine, bringing both buildings to full occupancy. The managing directors for these transactions were Richard Sung and Andrew Robben, who represented the owners Camphor Partners and Toda America Inc., respectively. With this achievement, Newmark now holds the second largest market share of office space in the Irvine Spectrum submarket, just behind The Irvine Company.
In total, there were 23 new leases signed between these two properties. Notable tenants include Crown Castle and Huntington Bank at 7700 Spectrum and Reliance Standard at 111 Pacifica.
According to Sung: “These recent lease signings demonstrate a positive trend towards increased demand for well-located office spaces.” He also noted that securing full occupancy reflects not only on the quality of these assets but also on the resilience and adaptability of the Irvine office market as a whole. This is an encouraging sign for recovery as companies continue to value strategic locations with desirable amenities like those offered by Irvine.
