Irvine Company acquired the 19-building Alton Plaza in Irvine Spectrum from AEW Capital Management for an undisclosed amount. The 216,000-square-foot campus is located at 15205-15295 Alton Parkway near the Irvine, CA train station.
The 14.5-acre campus is 95% leased to technology, medical device, R&D, real estate and engineering companies. Irvine Co.’s reinvestment plans for the property include adding dynamic outdoor spaces for people to work, collaborate or simply recharge.
When completed, roughly 700 employees from 25 companies will enjoy modern indoor and outdoor work spaces designed to foster innovation and collaboration.
Irvine Company Office Properties’ Steve Case said, “Our decision to acquire Alton Plaza is part of a broader effort to enhance Irvine Spectrum’s appeal as the ultimate address for forward-thinking businesses. We want to create memorable workplace experiences that support growth and innovation while enhancing recruitment and retention efforts.”