(IRVINE, CA) – Hines, the international real estate firm, along with a real estate fund managed by Oaktree Capital Management, L.P. (Oaktree), today unveiled architectural design plans for 17850 Von Karman, a 242,000-square-foot Class A office building to be built in Irvine, CA.
Hines and Oaktree purchased the development site in Irvine’s Main Corporate Center near the John Wayne Airport in 2013.
The site is located on the corner of Main Street and Von Karman Avenue in the heart of the airport area’s Irvine Business Complex (IBC) submarket, widely considered Orange County’s downtown.
Its strategic position offers immediate access to the San Diego (I-405) and Costa Mesa (SR-55) freeways, and close proximity to the Santa Ana (I-5), Corona del Mar (SR-73), and Laguna (SR-133) freeways.
More than15 restaurants and bars, two health clubs and four hotels are within walking distance.
Designed by the internationally acclaimed architect Gensler, 17850 Von Karman offers prospective tenants a distinguished identity with its unique glass and wood façade and highly visible building signage. Prospective tenants will have the flexibility to design a next-generation workplace with a combination of collaboration and focus spaces or a more traditional layout that optimizes productivity. 17850 Von Karman also provides indoor and outdoor spaces, with opportunities to interact, socialize and collaborate to accommodate the specific lifestyle of its workforce.
Features of the nine-story project include: 10’-11’ finished ceilings with potential for open ceilings; floor-to-ceiling glass; multi-dimensioned operable windows; a café and fitness center; and outdoor common area with recreational amenities and WiFi. The top floor and prominent northwest corner, which is framed with the signature wood element, have floor-to-ceiling glass, allowing for bright and visible offices or conference spaces. In addition, sustainable features include under floor air distribution (UFAD), high-performance glass, and drought-resistant landscaping.
Hines Managing Director Ray Lawler, who leads the firm’s Orange County development and investment office, said, “17850 Von Karman offers the complete solution for Orange County’s corporate and creative tenant base.
We have designed this project with the flexibility to cater to the lifestyles of the tenant’s workforce. Our site’s ideal location, 3.2 acres of programmed landscaping and on-site amenities, sustainable building features, and efficient floor plans, provides the resources necessary for today’s tenants to thrive.”
“Given the recent build-to-suit activity in the market, and the ever-improving market fundamentals in the Airport Area, we are confident this project will attract
premier tenants.
We look forward to working with future users to construct an exceptional building that will be the platform for their continuing success,” said Mark Jacobs, managing director for Oaktree.
Dean Chandler, John Weiner and Weston Chandler of CBRE have been selected for leasing of the property.
Oaktree is a leader among global investment managers specializing in alternative investments, with $86.2 billion in assets under management as of March 31, 2014. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 800 employees and offices in 16 cities worldwide.
For additional information, please visit Oaktree’s website at www.oaktreecapital.com.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,317 properties representing more than 541 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 391 properties totaling 161 million square feet, which includes 89.1 million square feet for third parties. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.
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17850 Von Karman