As of the second quarter, Orange County average apartment rents are $2,024 per unit, the highest rate in Southern California.

Regent Properties acquired the class-A office project comprised of two 18-story towers over shared structured parking that was redeveloped in 2000 and renovated in 2017.

The $1 billion 150-acre development accounts for nearly half of the total office space in Hidden Ridge, which includes roughly 3 million square feet of office as well as multifamily and retail space.

The new three-year lease transaction at the 340,000-square-foot property fills Boston-based Plymouth Industrial's largest vacancy in its portfolio and raises the property's leased rate to 76%.