Electronic Payment Firm Signs for 14,000-SF HQ

IRVINE, CA-National Payment Provider, a provider of electronic payment processing for businesses, has signed a five-year lease for 14,041 square feet of office space at Waterfield Tower for the company’s headquarters. The National Payment space is on the sixth floor of the building, which is at 18881 Von Karman Ave. in the Airport Area submarket.

National Payment provides credit card and debit card processing and a number of other electronic payment processing services for businesses. Terms of its lease were not disclosed, but published asking rates for the available space at Waterfield Tower are $275 per square foot per month, full service gross.

Waterfield Tower, which was known as Tower 17 for many years, gained its name in the spring of this year when Waterfield Bank, a federal savings bank based in the Midwest, signed a lease for 30,000 square feet at the office tower at the corner of Von Karman Avenue and Martin Street. The building owner is a joint venture of the Laguna Hills-based Muller Co. and Rockwood Capital that acquired the 18881 Von Karman building last year as part of a $310 million deal in which the joint venture bought three class A Orange County office assets totaling more than 839,000 square feet from Los Angeles-based Maguire Properties.

The building ownership was represented in the lease by Oliver Fleener and Greg May of the Newport Beach office of Grubb & Ellis; National Payment Provider was represented by Bob Reiden of Lee & Associates. The National Payment transaction was one of eight office leases totaling nearly 28,000 square feet that have been signed recently at Waterfield Tower and other buildings in Irvine, Costa Mesa and Santa Ana, according to Fleener and May, who represented the building owners in all of the deals.