Just when you thought there were probably enough new offices in Orange County to last until the year 2000, the Irvine Co. has topped out yet another tower, this time with 20 stories and 428,000 square feet of office space.
Mike Lutton, vice president and general manager of the Irvine Office Co., a division of the Irvine Co., explained why: "Our decision to build the new office tower was prompted by the strong leasing activity of the first phase of Jamboree Center and of MacArthur Court in Newport Beach."
The $75-million project is part of the second phase of Jamboree Center at Jamboree Boulevard and Main Street, adjacent to the San Diego (405) Freeway in Irvine. Jamboree Center, a 46-acre master-planned business complex, already includes twin 12-story office towers and the 550-room Irvine Hilton Hotel. Tooley & Co., Los Angeles, has just been named to manage the new building and the existing 12-story towers.
The twin towers, which have a total of 450,000 square feet of office space, are 85% leased or committed, said James E. Bell, the Irvine Office Co.'s vice president of sales and marketing. The towers opened in early 1987. MacArthur Court's twin 15-story towers, which opened last fall, are 55% leased.