IRVINE, CA—Brokers involved in Hyundai Capital America's lease at 4000 MacArthur here tell GlobeSt.com the space is a “crown jewel” of the Airport submarket and a rare find in this region for space of its size. As GlobeSt.com reported recently, the top-10 US auto-finance company has signed a lease for 177,000-square-feet of space at the repositioned building.

Cushman & Wakefield's Don Yahn represented HCA in the transaction, while George Thomson, Andy White and Jay Nugent of JLL represented landlord Emmes. Thomson tells GlobeSt.com, “4000 MacArthur was truly transformed into a premier class-A office project that appeals to a broad spectrum of businesses in Orange County and at the same time effectively leads the way into the Orange County creative-space evolution. Our leasing team is proud to be associated with a forward-thinking and well-capitalized ownership and management team at Emmes, which really empowered the entire team at 4000 MacArthur to execute the leasing strategy in record time and at market-leading rental rates.”

White adds, “I think Hyundai seized a great opportunity. They secured one of the last remaining big blocks of space in the market, not to mention the A+ location and incredible visibility. Emmes is a very capable and seasoned organization. It is no surprise that 4000 MacArthur is a crown jewel of the Airport submarket following its impressive repositioning.”

GlobeSt.com was unable to reach Emmes before deadline to discuss its view of the lease and its potential impact on the office market in Orange County.

The demand for creative-office space, seen previously in other California markets such as San Francisco and Los Angeles, has finally hit Orange County. Royce Sharf, EVP, branch manager with Savills Studley, recently told GlobeSt.com exclusively, “Perhaps for the first time, we are definitely seeing a meaningful interest in creative-office solutions. In addition, tenants are making every attempt to densify their space planning. This trend, found for years in most other markets outside of the US, is here to stay. This will have a significant impact, increasing the strain on parking availability, building systems, etc.”