Transwestern's ICT Occupancy Improves

IRVINE, CA-Occupancy continues to rise at 18400 Von Karman Ave., part of the four-building Irvine Center Towers complex, with three recent lease deals totaling more than 56,000 sf. Occupancy at the 11-story building has risen 25% so far this year, according to property manager Transwestern Commercial Services.

Current tenant New Century Mortgage Corp. has taken another 20,456 sf at 18400 Von Karman Ave. The mortgage company, a tenant since 1998, now has 60,000 sf over three floors.

Buchalter, Nemer, Fields & Younger is taking 20,456 sf in January, moving from Newport Beach. The 10-year deal is worth $5.1 million, averaging out at $24.93 per sf.

Massachusetts-based Kronos signed an eight-year lease for 15,590 sf in a deal worth $3.2 million. That averages out to $25.66 per sf.

“With such high-caliber firms as Buchalter, Kronos and New Century joining the roster alongside companies like Pfizer, Union Bank and Sprint, this property’s tenant mix is an impressive feature as well,” says Transwestern Commercial Services senior vice president Greg May.

May represented building ownership, a joint venture between Connecticut Insurance Group of North America and Transwestern Investment Co., along with vice president Dave Girty. Rich Kaplan of Cushman & Wakefield represented New Century Mortgage Corp.; Kevin Bender and Eric Dunkelson of CB Richard Ellis represented Buchalter, Nemer, Fields & Younger; and Jonathan Larson of Trammell Crow Co. represented Kronos.