Tim Helgeson and Greg Tippin from Newmark Knight Frank realestate advisers represented Specific Media, with the Irvine Co.representing itself. Roy Luna, CFO of Specific Media, says that thecompany wanted to be able to remain at the Jamboree Center as itoutgrows its current space. Terms of the lease were notdisclosed.
The Jamboree Center is close to the John Wayne Airport as wellas retail shops and services, hotels and other amenities. Recentmarket reports show the average asking lease rate for class A spacein the Airport Area submarket at more than $3 per sf per month.
Specific Media is the largest independent online advertisingnetwork in the US and also one of the fastest growing. Its revenueincreased more than 300% in 2007 compared to 2006, and the companyreports that the reach of its online advertising network has grown57% since February 2007.
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