Dave Howard and George Chelius of Resource Commercial say the law firm, which is expanding from an office along Old Newport Road in Newport Beach, has already occupied its new space in a sublease that runs until February 2007. The Resource Commercial brokers represented Software AG in the deal.
Brian Pezzolla of the Irvine office of Voit Commercial Brokerage, who represented the law firm, tells GlobeSt.com that the lawyers leased all of the space formerly occupied by the software company. Terms of the deal were not disclosed, but Pezzolla says asking rate for the sublease space was about $1.60 per sf per month, and that the deal got done at right around that number. Asking rate for direct space in the building is $2.25 per sf per month.
Constructed in 1987, the 18500 Von Karman Ave. building is a 97.7%-occupied, 217,239-sf design. It is part of the Irvine Center Towers office development.
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