GE Capital Solutions was represented by Travis Boyd, Rick Sherburne and Alex Hayden with Cushman & Wakefield, with the Irvine Co. representing itself. Specific terms of the deal were not disclosed, but it is a long-term lease in an area where rates are among the strongest in the region.

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

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

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