A wekly look at office and industrial real estate in the county. : IRVINE COMMERCIAL REAL ESTATE
A look at commercial real estate data in an Orange County community as of June 30, 1988.
OFFICE BUILDINGS
Existing Buildings
Number of buildings 132
Total square feet 9,835,437
Vacant space 2,265,964
Vacancy rate 23.04%
Buildings Under Construction
Number of buildings 12
Total square feet 2,285,200
Committed space 279,800
Committed, percentage of total 12.24%
Monthly Lease Rates Per Square Foot
Monthly Lease Rates Per Square Foot Existing Vacant Office Space Average $1.93 Low $1.25 High $2.74 Space Under Construction Average $2.06 Low $1.85 High $2.50 High Tech/Research & Development Space Sale price per square foot Average $91.32 Low $71.43 High $108.34 Lease price per square foot Average $0.78 Low $0.49 High $1.25 Manufacturing/Warehouse Space Sale price per square foot Average $104.01 Low $71.50 High $112.00 Lease price per square foot Average $0.59 Low $0.45 High $0.75 Source: Coldwell Banker FOCUS: JAMBOREE CENTER PHASE II
FACTS AND FIGURES
Address: 5 Park Plaza, Irvine
Developer: Irvine Co.
Architect: Skidmore, Owings & Merrill, San Francisco
Primary Contractor: Koll Construction
Broker: Tooley & Co.
Financing: Irvine Co.
Number of floors: 20
Square feet: 428,000
Use: Luxury Office
Cost (land and building): $75 million
Previous owner of land: Irvine Co.
Scheduled completion date: late 1988
Percentage of building leased: 25%
Parking capacity: 2,000
Projected rental cost per square foot: $1.80 and up
MAJOR TENANTS
Tenant Square feet
Geneva Cos. 100,000
Nissan 7,000
Source: Irvine Co.
