MISSION VIEJO, CA-Centex Homes of Dallas has signed a lease for 46,326 sf of office space at the Mission Ridge development, one of two office leases announced lately by brokers and landlords. In the other, Arden Realty reports that Hyundai Motor America signed for 19,938 sf at Arden’s Fountain Valley Plaza at 10540 Talbert Ave. in Fountain Valley.
Centex is expected to move into is new space in June, according to Greg Puccinelli and Scott Johnstone of the Newport Beach office of Grubb & Ellis. Puccinelli and Johnstone report that the home builder signed a seven-year deal with landlord Legacy Partners, the developer of the Mission Ridge office project.
Puccinelli and Johnstone, who represented Legacy Partners in the lease, note that with the signing of the Centex deal, the Mission Ridge office project is 98% leased. The Mission Ridge development consists of twin four-story, class A office buildings totaling 232,000 sf.
The facility will serve as a regional sales and marketing office for Centex and represents a new location for the Dallas-based firm, which was represented by Rick Sherburne and Travis Boyd of Cushman & Wakefield. The new Centex office will be at 27201 Puerta Real.
In the Arden deal, Hyundai Motor America has leased its space next door to Hyundai’s national headquarters office. The total consideration for the five-year lease is $2.6 million.
Arden was represented by Andy Batcheller, senior portfolio leasing manager for the company’s Orange County region. Hyundai was represented by Donald Yahn of Cushman & Wakefield.