Barker Pacific Announces 53K SF of Office Leases in Orange County
By Greg Cornfield June 5, 2024 6:30 pm
reprints
Barker Pacific Group, owners of a prominent pair of office buildings in Orange County, Calif., announced more than 53,000 square feet of new leases at the property, including a renewal and expansion by Optima Tax Relief.
The landlord said Wednesday that the tax dispute resolution company, which previously leased 38,000 square feet at the buildings in Santa Ana also known as Griffin Towers, recently expanded its workspace by more than 19,000 square feet to 57,230 square feet in total. Terms of the leases were not immediately disclosed.
Additionally, Senior Doc leased 14,557 square feet for its senior health care services office employees, and law firm Thomas Kerns McKnight signed for 13,563 square feet.
Further, geoengineering consultants GeoPentech and 3D printing services company GoEngineer signed for just under 3,000 square feet each.
The twin Griffin Towers at 5 & 6 Hutton Centre Drive feature 560,163 square feet of Class A office space. Investment giant Blackstone (BX) sold the asset last year for 36 percent less than what it paid to acquire the buildings a decade ago in what became the first of many major signs of the steep decline in office values around Southern California. Indeed, more Santa Ana office buildings have since traded at significant losses, including some along the half-mile-long Hutton Centre Drive.
“We are encouraged to have this leasing activity at the project, and it bodes well for companies returning to office after the pandemic,” Michael Barker, managing director of Barker Pacific Group, said in a statement. “Things are looking up for future commercial projects and commuters’ work/life balance.”
Mike Salmon of Madison Partners represented Thomas Kerns McKnight. CBRE’s Dave Ellis represented Senior Doc. Eric Purmort, also of CBRE, represented GeoPentech. CBRE’s Taylor Friend, Peter Wells, Dean Chandler and Justin Hill represented Barker Pacific as well as GoEngineer.
The Los Angeles-based landlord also owns 101 Continental in El Segundo; and The Fine Arts Building and 5055 Wilshire Boulevard, each in L.A.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
