John Wayne Airport Area Magnet to Luxury Tenants
About 1 million square feet of luxury office space could be absorbed each year in the John Wayne Airport area of Orange County, according to a survey conducted for Irvine-based Brinderson Real Estate Group.
The study of 35 luxury buildings by the Research Network of Laguna Hills noted that nearly 90% of the 1.3 million square feet of office space that has been leased in the airport area for each of the past five years has been in Class A office buildings.
Among the tenants that have moved to such space are Unisys, AT&T;, Taco Bell, Coca Cola, Equitable Real Estate Investment Management and Mutual, according to Dan Smith, Brinderson’s president.
Brinderson LTD and Equitable Life Assurance Society of the United States are the joint-venture developers of the $125-million Brinderson Towers office project in the Irvine Business Complex.
Smith said that nearly 65% of the first tower in the project has been leased, with the average size space leased about 7,000 square feet for each suite.
In addition to Brinderson Towers, other luxury office buildings that have recorded strong leasing activity include Jamboree Center and University Tower in Irvine and Griffin Tower in Santa Ana.
