LAGUNA HILLS, CA-The locally based Muller Co. has signed tenantsto 180,000 square feet of leases valued at $41 million that fillone office campus to 100% occupancy and another to 88%. Therecently completed transactions include new leases and leaserenewals at Torrey Pines Court in La Jolla in San Diego County andMain Street Town Center in the Orange County city of Santa Ana.

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The property that is now 100% leased is Torrey Pines Court at3366 N. Torrey Pines Court in La Jolla—a 200,000-square-foot,five-building office park, where the newly completed leases total118,000 square feet. The Muller Co bought Torrey Pines Court in2005 in a joint venture with Rockwood Capital. At the close ofescrow, the project was 56% leased and had severe functionalchallenges, according to Muller, which completed a $26 millionrenovation on three of the existing buildings.

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The 118,000 square feet in new leases includes deals with GSA,Scripps, Orexigen Therapeutics, and West Wireless HealthyInstitute. GSA signed a 33,780-square-foot, five-year lease.Scripps signed a 15,057-square-foot, five-year lease and wasrepresented by Brian Gallagher of Health West Realty Advisors outof San Diego. Orexigen Therapeutics signed a 22,229-square-footlease with a 9,312-square-foot expansion, for a 64-month lease andwas represented by Scott Ginsburg of Staubach Co. in San Diego.West Wireless Health Institute signed a 37,960-square-foot,seven-year lease and was represented by David Marino of IrvingHughes in San Diego.

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The new and renewed leases total 58,143 square feet at MainStreet Town Center, a 10-story, 215,000-square-foot class A officebuilding at 2677 N. Main St. in Santa Ana that is also owned inpartnership with Rockwood Capital. Among the leases is a44,024-square-foot, 72-month renewal with New York-based AssurantInc., Main Street Town Center’s largest tenant. The building’soccupancy rate is 88% in a market that currently endures negativeabsorption and an 18% vacancy rate, noted Jim Bannan, director ofleasing and marketing for the Muller Co.

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Assurant, a provider of specialized insurance products andrelated services, was represented by UGL Equis SVP Justin Hodgdonof the firm’s Costa Mesa office and SVP Josef Farrar of its LosAngeles office. Four other tenants signed leases ranging from 875square feet to 7,193 square feet. Coreland Cos. of Tustin is theleasing agent for Main Street Town Center.

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In addition to signing the new leases, the Muller Co. recentlywon a number of management contracts. DCT Industrial Trust Inc.chose the company to manage its Phoenix portfolio of 14 industrialbuildings totaling over 1.6 million square feet; Bank of Americaawarded it a contract to manage Creekside Executive Center inCamarillo, which is a two-story office building with 13office/medical condos totaling 73,892 square feet; a prominentglobal financial services firm named Muller to a managementcontract for a 19-story, 255,477-square-foot office building inPhoenix.

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