Lease Agreement: The Irvine Co. announced Wednesday...

Lease Agreement: The Irvine Co. announced Wednesday that it had found a tenant for an industrial building that has stood vacant for more than a year.

American Sporting Goods signed a 60-month, $2-million lease for the 83,817-square-foot building on Von Karman Avenue in Irvine. The athletic shoe distributor will gain about 34,000 square feet in the move from its current headquarters, a nearby building on Milliken Avenue.

“They’re paying about the same amount for the new space that they were paying for a 50,000-square-foot building,” said Grubb & Ellis broker Jedd Zaun, who represented the tenant.

But the lease is a good deal for the Irvine Co., as well, said CB Commercial broker Richard Allred, who represented the landlord. “Given the amount of space on the market today, both sides fared well,” he said.