Hobby Products International will occupy 45,190 sf at theFoothill Business Center, according to the terms of the five-yearagreement. The 78,328-sf facility is located at 70 Icon. It is oneof three buildings that comprise the Foothill campus. HobbyProducts specializes in the sale, assembly and distribution ofremote control vehicles.

Christine Bowen and John Matus, both of Lee & Associates'Irvine Spectrum office, represented Hobby Products International.Gregg Haly of CB Richard Ellis' Newport Beach office, handled talksfor building owner, Opus Real Estate America III.

Office vacancies are on the rise in Foothill Ranch andneighboring South County regions, according to a third-quarterreport published by Cushman & Wakefield of California Inc. Theoverall vacancy rate here stood at 37.6% at the end of the thirdquarter, having jumped significantly from 30.9% at the end of thesecond quarter.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.