Irvine Co. said that a new office leasing program it launched pre-pandemic with shorter lease terms for tenants is seeing robust demand.
The Newport Beach landlord’s Flex Workspace program, launched in 2019, offers turnkey workspaces with shorter-than-normal lease terms, running as little as six months.
The landlord said it has leased about 750,000 square feet in flexible leases over the past year.
The recent deals have included fintech, finance, technology, and medical device companies at Irvine Co. properties in Orange County, Los Angeles and San Diego, it said.
Irvine Co. is the state’s largest office landlord. It oversees a 53 million-square-foot portfolio, a bulk of it in OC.
“Although we created Flex Workspace before the pandemic, it has understandably become a popular option for companies who desire flexibility as they transition back to the office,” said Steve Case, executive vice president of Irvine Co.’s office division.