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ORANGE, CA-A lease renewal valued at $1.4 million has been inked for office space at Orangewood Office Center in Orange. The tenant, St Joseph Professional Services Enterprises, will continue to occupy 22,932 sf at the office complex, according to the terms of the three-year lease.

Orange-based St. Joseph is housed in the development’s 1845 Orangewood Ave. building. The 110,000-sf Orangewood Office Center consists of three buildings. It is currently 94% occupied.

St. Joseph Professional Services was represented by Kevin Leonard of Healthwest Realty Advisors. A Lee & Associates brokerage team consisting of Alida V. Calvagna and Robert Engen represented the landlord, Stache Enterprises. Both Calvagna and Engen work out of Lee & Associates’ Orange office.

Vacancies at office properties have risen, while absorption has slowed countywide, according to a recent report by Grubb & Ellis. Orange County had a negative net absorption of 278,000 sf in the first quarter, the report says. Meanwhile, 307,000 sf of new space was delivered to the market and an additional 2.9 million sf is under construction.

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