Consulting Firm Armanino Secures 45K SF of SoCal Office Space With Irvine Company
By Anna Staropoli May 20, 2024 6:22 pm
reprints
Accounting and business consulting firm Armanino is reaching for the stars, with two full-floor leases at Irvine Company’s 2121 Avenue of the Stars and 400 Spectrum Center.
The firm inked deals for 23,450 square feet at the prominent 2121 Avenue of the Stars in Los Angeles’s Century City, and for 22,000 square feet at Orange County’s 400 Spectrum Center, according to the landlord.
With these deals, both office buildings are creeping toward full occupancy. The 34-story 2121 Avenue of the Stars is 91 percent leased, while the 21-story 400 Spectrum Center in the city of Irvine — the tallest building in Orange County — is 97 percent occupied. A spokesperson for Irvine Company did not immediately provide the asking rents.
CBRE (CBRE)’s Danny Rees and Savills’ Randy Parker, who together represented Armanino in the deals, did not immediately respond to requests for comment. It’s unclear who brokered the deal for Irvine Company.
“When we were looking to upgrade our workplaces, Irvine Company’s ability to bring our vision to life in the Los Angeles and Orange County markets were driving factors in our decision to move to 2121 Avenue of the Stars and 400 Spectrum Center,” Gilly Malmquist, Armanino’s senior director of workspace and real estate, said in a statement.
The Armanino leases build off the momentum of Irvine Company’s previous deals. In the first quarter of 2024, the landlord — whose portfolio spans Southern California and Silicon Valley, as well as Chicago and New York — leased roughly 2 million square feet across Orange County and Los Angeles. More than 120 companies in the Irvine Company’s tenant roster are leasing properties in more than one of the landlord’s buildings.
“We continue to see more customers like Armanino lease office space across multiple markets,” Roger DeWames, president of Irvine Company Office Properties, said in a statement. “This trend demonstrates the ongoing flight to quality and the ever-growing importance of choosing not only where your company works, but who your landlord is.”
Anna Staropoli can be reached at astaropoli@commercialobserver.com.
