Tenants Ink Office Leases Totaling 115,000 SF

The new tenant for Los Angeles-based Maguire is US Bank National Association, which has signed a 10-year deal for space at the L.A.-based office REIT's 3121 Michelson Dr. office tower at Maguire's 105-acre Park Place mixed-use campus. The lease is scheduled to begin in August.

Nelson C. Rising, president and CEO of Maguire, notes that US Bank is a longstanding tenant with the REIT, dating back to 2002 when the bank became a tenant at what is now US Bank Tower in Downtown Los Angeles, where it now occupies nearly 165,000 square feet. Joseph Otting, Los Angles-based vice chairman of commercial banking for US Bancorp, says that the new lease follows US Bank's recent growth, which included the acquisitions of Mellon 1st Business Bank, Downey Savings and Loan and PFF. The bank was represented by Nick Christensen of CB Richard Ellis, with Maguire represented internally by Peter Johnston and Stephan Khudic.

In the next largest of the four deals, telecommunications provider Nexus IS Inc. signed a five-year lease for 13,963-square-foot lease at the 204,000-square-foot Alton Corporate Plaza, at 1733 Alton Parkway in Irvine. Nexus IS is expected to occupy the space in July, according to Gary McArdell, associate vice president of the Newport Beach office Grubb & Ellis, who represented the tenant. The building owner, Legacy Partners, was represented by Brian Garbutt of Lee & Associates.

In a 12,516-square-foot lease at 1301 Dove St. in Newport Beach, the law firm of Beam, Brobeck, West, Borges & Rosa signed a five-year lease with landlord Metropolitan Life Insurance Co. The law firm was represented by Tony Gleason of the Irvine office of Voit Commercial Brokerage. Metropolitan was represented by David Dowd and Greg Brown of Cushman & Wakefield.

In the last of the deals, the law firm of Waldron & Bragg signed a multi-year lease on a 5,902-square-foot office property at 23 Corporate Plaza in Newport Beach. Waldron & Bragg was represented by Doug Killian of the Irvine office of Voit, with the building owner, the Irvine Co., representing itself.