Segerstrom Inks 57 KSF in Orange County
Law Firm Snell & Wilmer has signed a 57,326-square-foot renewal and expansion at Plaza Tower, a 460,000-square-foot office building in Costa Mesa, Calif., within the South Coast submarket of Orange County. JLL and CBRE negotiated on behalf of the tenant, while Cushman & Wakefield worked on behalf of the landlord.
The property is part of South Coast Plaza, a three-building office collection totaling nearly 1.3 million square feet of space. The ensemble is owned by C.J. Segerstrom & Sons, CommercialEdge shows.
The deal represents one of the largest law firm leases signed in Orange County this year. Snell & Wilmer’s expansion will accommodate more than 70 lawyers, marking the company’s 35th anniversary in the metro. The firm will upgrade its office space, spread across three floors, at the 21-story office building.
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Other tenants at Plaza Tower includes Ducommun Inc., IBM, CONTAX SAP Partner, Edelman Financial Engines and Porsche Design of America Inc., among others, according to CommercialEdge. The same source shows that the law firm has been a tenant here since 2014 and it previously occupied 53,000 square feet.
JLL Managing Director Kevin Bender and CBRE Executive Vice President Charles Nixon represented the tenant during leasing negotiations. Cushman & Wakefield’s Executive Director Robert Lambert and Executive Vice Chairman Rick Kaplan assisted the landlord.
Prime office space in Orange County
Plaza Tower is at 600 Anton Blvd. and features floorplates between 20,624 and 22,802 square feet, eight passenger elevators, 1,500 square feet of first-floor retail space and 1,874 parking spots. Completed in 1992, the landmark property was designed by architect César Pelli, and its amenities include a fitness center with locker rooms, on-site dining options.
The building offers access to the South Coast Plaza’s more than 250 boutiques and restaurants, as well as to Segerstrom Center for the Arts. The 5-acre property allows easy access to Interstate 405 and is 2 miles from John Wayne Airport, 5 miles from downtown Santa Ana, Calif. and 10 miles from downtown Orange, Calif.
According to JLL’s third-quarter office report for Orange County, the leasing volume in the metro increased by 5 percent on a quarter-over-quarter basis, with the largest deals being renewals. At the end of the third quarter, the metro’s total office vacancy stood at 17.4 percent, below the national figure of 19.5 percent.
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