Hines and Oaktree Complete 650,000 Square Feet of Leasing in Orange County

(IRVINE, CA) – Hines, the international real estate firm, today announced the completion of 650,000 square feet of leasing in its Orange County portfolio during the last twelve months.

Hines Managing Director Ray Lawler, who leads the firm’s Orange County development and investment office, said, “The exceptional leasing velocity our team has been able to achieve is a direct reflection of the increasing demand for high-quality, well-located properties, the appeal of our strategic capital upgrades, and our deep broker and tenant relationships.”

Hines and funds managed by Oaktree Capital Management, L.P. (Oaktree) are now focused on leasing their other projects in Orange County.

“Our vacancies include 50,000 square feet in Alton Corporate Plaza in Irvine; 120,000 square feet in 1750 E. Fourth Street in Santa Ana; and 200,000 square feet in Brea Place in Brea.

To drive leasing efforts, we are planning to execute nearly $15 million of capital improvements over the next six months.

In addition, we are actively working to secure an anchor tenant for our new office development at 17850 Von Karman that will include 242,000 square feet over nine floors,” said Mark Jacobs, managing director with Oaktree.

The 2014 notable leases include:

Rockwell Collins signed a 175,000-square-foot lease in Alton Corporate Plaza.

The aviation electronics solutions company was represented in lease negotiations by Senior Managing Director Louis Tomaselli and Senior Vice President Steve Wagner of JLL’s Orange County office.

Executive Vice President Joe Bevan and Managing Director Wade Clark of JLL’s Orange County office represented Hines.

Spireon, headquartered in Irvine and the leading innovator of Mobile Resource Management (MRM) and Business Intelligence Solutions, signed a 65,000-square-foot lease at Alton Corporate Plaza, bringing the occupancy of the project to 85 percent.

Executive Vice President Joe Bevan and Managing Director Wade Clark of JLL’s Orange County office represented Hines.

Nobel Biocare signed a 125,000-square-foot lease in Savi Tech Center located in Yorba Linda.

The dental implant manufacturer was represented in lease negotiations by Senior Managing Directors Justin Hodgdon and Drew Netherton of Newmark Grubb Knight Frank.

Savi Tech Center is 95 percent leased.

Harvest Christian Fellowship leased 106,000 square feet in 17600 Gillette in Irvine.

Harvest Christian Fellowship was represented in lease negotiations by Managing Partner Lin Stinson of Segovia Capital Partners.

17600 Gillette is now 100 percent leased.

The Enthusiast Network (“TEN”), formerly known as Source Interlink Media, signed a 61,000-square-foot lease at 1821 East Dyer Road, an office building within the Irvine Business Complex (IBC).

TEN is the world’s premier network of enthusiast brands such as Motor Trend, Automobile, Hot Rod, and Surfer magazines.

1821 East Dyer Road is now 100 percent leased.

Executive Vice President David Marino of Hughes Marino represented TEN.

Executive Vice President Joe Bevan and Managing Director Wade Clark represented Hines.

In addition to the above leases, Hines and Oaktree have completed over 100,000 square feet of leases with prominent companies such as Alta Resources, HomeStreet Bank, Manufacturers Bank, The Outsource Group, and Veolia Water.

"Orange County’s office market remains strong where building owners have delivered large, efficient blocks of space in brandable, quasi-creative, ideally-located buildings,” according to Joe Bevan of JLL.

“Hines and Oaktree have figured it out and attracted several of the largest tenants in 2014 to its office projects.”

Oaktree is a leader among global investment managers specializing in alternative investments, with $93.2 billion in assets under management as of September 30, 2014. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 17 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,317 properties representing more than 541 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 391 properties totaling 161 million square feet, which includes 89.1 million square feet for third parties. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.

Visit www.hines.com for more information.