GE Capital Solutions was represented by Travis Boyd, RickSherburne and Alex Hayden with Cushman & Wakefield, with theIrvine Co. representing itself. Specific terms of the deal were notdisclosed, but it is a long-term lease in an area where rates areamong the strongest in the region.

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The Jamboree Center is close to the John Wayne Airport as wellas retail shops and services, hotels and other amenities. Thelatest Cushman & Wakefield market report shows the directvacancy rate at 10.4% for office space in the Greater Airport Areaand the overall vacancy at about 12.1%, with the submarket havingabsorbed more than 616,00 sf of space year-to-date.

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Val Wheeler, president of the Irvine Co. office propertiesdivision, says that the new lease with GE enables the Irvine Co. torenew a quality long-term tenant while at the same timeaccommodating the tenant's expansion within Irvine. Built in 1991,the 4 Park building that GE occupies is home to a tenant rosterthat includes Howrey LLP; Orrick, Herrington, Sutcliffe LLP; Payne& Fears LLP; AXA Advisors Inc. and others.

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The Irvine Co.'s Jamboree Center comprises five office towerstotaling 1.6 million sf in a campus environment just off of the 405Freeway. The center features an on-site conference center, surfaceand structured parking, a Hyatt Regency hotel, three on-site cafes,an auto detailing center, the Harvard Place retail center and otheramenities.

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