A 73-acre office campus, replete with a pool and other amenities, has generated a hefty amount of leasing activity after its third phase opened last year in Orange County, California.
The final phase of the 1.1 million-square-foot Spectrum Terrace at 17700 Laguna Canyon Road in Irvine wrapped up construction in 2022 after it broke ground in early 2021. The project won a CoStar Impact Award for commercial development of the year in Orange County after being selected by a panel of local industry professionals.
Outside of the pool, the project features floor-to-ceiling windows, a kitchen and bar and event and fitness centers. The first two project phases are 100% leased to tenants including CoStar Group. Overall, the campus is 68% leased.
The project also boasts impressive views of nature, including 2,200 mature olive and pine trees and thousands of acres of preserved open space.
Private developer Irvine Co. developed the property. The master-planned city of Irvine's main developer has been Irvine Co. since the 1960s.
About the project: The third phase of the 1.1 million-square-foot Spectrum Terrace at 17700 Laguna Canyon Road in Irvine, California, was completed in 2022.
What the judges said: "Build it and they came," said John Collins, senior vice president and principal of Lee & Associates Newport Beach. "World class companies continue to choose Irvine when world class office buildings are built. The work from home trend didn't impact the lease up of this project."
They made it happen: Irvine Co.'s Mike Santley