The Michelson Reaches 93 percent occupancy following the Year’s largest Lease Transaction with LA Fitness for its new Global Headquarters.
EMMES increases occupancy from 66 percent to 93 percent in the past 12 months IRVINE, CALIF. – JAN. 23, 2012 – The Michelson has reached 93 percent occupancy after EMMES Realty Services of California, an affiliate of The EMMES Group of Companies, completed a 10‐year, 91,023 square‐foot lease with LA Fitness International LLC. The Michelson, Orange County’s premier office location, is a LEED Gold, landmark 533,000 square‐foot high rise building located at 3161 Michelson Drive in Irvine, Calif. The new space will be used as the company’s global corporate headquarters.
Bob Thagard of ORION Property Partners, Inc. represented LA Fitness in the transaction. EMMES represented itself.
“LA Fitness was focused on finding the highest quality building featuring state‐of‐the‐art amenities and which provided room for future growth” said Thagard. “We were able to partner with a sophisticated landlord who understood this transaction’s complexities and could structure the lease accordingly.”
Located in the heart of Orange County at the southeast corner of Jamboree Road and the 405 Freeway, The Michelson is a 19‐story iconic tower built in 2007. It offers panoramic views of the Pacific Ocean, San Gabriel Mountains and Orange County skyline. In addition to LA Fitness, several other prominent companies including Hyundai Capital America, Gibson Dunn, Jacobs, Bryan Cave, Greenberg Traurig, and Jones Day also lease space in The Michelson.
“We are pleased to welcome LA Fitness as a tenant to The Michelson. It is one of Orange County’s premier and fastest growing companies,” said Richard A.C. Coles, Managing Principal at EMMES. “The Michelson’s current occupancy confirms its attractiveness to companies. The Michelson is the premier building in Irvine, one of Orange County’s most
desirable submarkets.”
About The EMMES Group of Companies
Since 1992, The EMMES Group of Companies on behalf of its affiliated entities, capital
partners and investors, has acquired and managed more than 35 million square feet of retail,
office, industrial and multifamily properties. The company’s current portfolio is comprised of
nearly 10 million square feet located in 19 states. Learn more at www.emmesco.com.
As a leading force in Orange County commercial real estate, ORION steps forward confidently into tomorrow as their team of real estate brokers and associates provide innovative services over tenant representation that is second to none. As real estate in Orange County begins to build the increasing stride, rates for commercial real estate’s owners and investors will strengthen and ORION is there to not only continue in bringing the two parties together for a long lasting and successful exchange in Orange County office space for lease, but to create a mutual agreement beneficial to both sides of the table. It’s what we’ve done for years and it’s what we will continue to do always.
Full Press release can be downloaded here.