08 March 2016
The Irvine Co began constructing 400 Spectrum Center just as its twin, 200 Spectrum Center, opened for business earlier this month. The firm's 21-story vertical office campus at 200 Spectrum Center is Orange County's tallest building at 323.4 feet.
Bisnow caught up with Irvine Co Office Properties president Doug Holte and SVP for leasing and customer relations Steve Case to find out why their company is bullish on Irvine‘s office market, and what tenants can expect at Spectrum Center buildings.
"There‘s pent-up demand for quality office space, as existing buildings are 96% full,” Steve tells us. Because there are no large blocks of space available, leasing is robust. In fact, the 426k SF 200 Spectrum Center tower was 40% leased on opening day, with deals in the hopper to bring building occupancy to 60%. Tenants occupying the first 40% of leased space include: automotive innovator Mazda North American Operations; shared work-space giant WeWork; and cutting-edge, game communication leader Curse Inc.
"We are creating a niche in the office market, with flexible workspace that accommodates all types of industries, convenient amenities, and desirable attributes like lots of natural daylighting,” Doug says.
The building appeals to all types of tenants, from techies and creatives to traditional office users, such as law firms and financial institutions, he says, with Irvine now a hub for virtual reality and video game developers like Curse, which is moving to Irvine from San Francisco.
Doug explains the company studied customer data to design ?the ultimate modern workplace community for forward-thinking businesses.”
Designed by world-renowned architect Pei Cobb Freed & Partners, this sleek, high-performance, stainless steel structure features 10-foot ceilings and floor-to-ceiling glass that provides superior natural light and unobstructed, 360-degree views throughout OC. An efficient, flexible floor plan allows workspace to grow and evolve along with businesses occupying them and can be configured as open, collaborative space or traditional office arrangements.
The building employs the latest communications infrastructure and other cutting-edge technologies that provide a healthy indoor environment, save time, and reduce energy and water usage. The 200 Spectrum Center building was designed to achieve LEED Gold certification and has received Energy Star recognition by the US Department of Energy.
It will become part of Irvine Co‘s fleet of new Hybrid-Electric Buildings to reduce peak-energy demand, ease the need for additional power plants to replace capacity from the retirement of San Onofre Nuclear Generating Station, and reduce electricity costs.
A high-tech elevator learns from passenger behavior to reduce travel time and a hyperwall serves as an electronic concierge and displays news of interest to tenants.
The building features Irvine Co‘s signature amenities and time-saving services, including on-demand concierge service and The Commons, an open-air causal work and leisure space with complimentary WiFi, as well as a locker room with showers and covered bike storage to accommodate outdoor fitness activities and tenants who commute by bike.
Additionally, a bike share program is planned to offer commuters an alternative to the train station and provide tenants bikes to visit retail amenities in the area or for recreational use.
A version of Kinetic, the company‘s new healthy workplace concept, will be incorporated into both Spectrum Center buildings. This health-and-wellness facility provides an on-site fitness center and wellness services in conjunction with nearby St. Joseph Hoag Health Wellness Corner.
The location offers tenants a live/work/play lifestyle in a walkable, bike-able environment. About 1.2M SF of retail, restaurant and entertainment options at Irvine Spectrum Center are across the street, and the Spectrum Center campus is surrounded by about 5,000 residential units. The Courtyard Irvine Spectrum and under-construction Marriott Irvine Spectrum hotels are within a few minutes walk of the Spectrum Drive buildings.
"We continuously listen to our customers and push to enhance the workplace experience, knowing that professionals integrate work and life more than ever,” Doug says. "With its world-class amenities and location, 200 Spectrum Center has quickly become one of the most sought-after addresses in the region—and 400 will soon follow.”