REAL ESTATE
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Fast-Paced Leasing: Agents for Irvine Spectrum, the business park owned by the Irvine Co., signed 30 new leases during the most recent quarter--nearly $16 million worth in just one 30-day stretch, said Jeff Deis, vice president of industrial operations at the Irvine Co.
During the third quarter, the business park leased 600,000 square feet of space. The 3,600-acre business park is now 90% occupied and is home to more than 35,000 workers.
The largest deal was a $6.3-million, 10-year lease for Baxter Biotech Immunotherapy Division, which is moving into two buildings with total space of 72,000 square feet. The company will bring 120 employees to the Spectrum from existing facilities in Santa Ana and Duarte.
Under a $2-million lease, Philips Ultrasound, a unit of Philips Medical Systems North America, is moving 90 employees from Santa Ana to a new facility in the Spectrum.
NetSoft, a software development company, signed a $1.4-million lease to move its headquarters and all operations from Aliso Viejo to 30,000 square feet in the Spectrum.
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