The new tenant will be occupying the entire building at 18871 Teller, which was built in 1967 and is part of Irvine Technology Center. Since Passionate Pet is a new company, this is its first space. The Passionate Pet deal differs from many if not most of the industrial and office deals being signed throughout Southern California and the rest of the country lately in that the lease is all-new space that will be occupied by a tenant that previously was not in the market. Most of the leasing throughout the country these days is in the form of renewals, according to brokerage reports on the office and industrial markets.
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