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.

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.

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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