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Orange County lender CashCall to expand with new offices

July 29, 2012|By Roger Vincent
  • CashCall Inc. has agreed to lease seven floors in City Plaza in Orange.
CashCall Inc. has agreed to lease seven floors in City Plaza in Orange. (Hudson Pacific Properties )

Consumer finance lender CashCall Inc. will get its name on top of City Plaza in Orange after agreeing to lease seven floors in the tower.

In an expansion of its mortgage and finance offices, CashCall will rent 125,208 square feet in the 19-story tower at 1 City Blvd., landlord Hudson Pacific Properties Inc. said.

Financial terms were not disclosed, but real estate experts familiar with the Orange County office market valued the seven-year deal at about $20 million.

CashCall is one of Orange County's largest employers, with about 1,600 workers, Chief Executive J. Paul Reddam said.

The Anaheim-based company is growing quickly and has expanded its offices from 60,000 square feet in 2010, when it had 200 employees, to a total of 300,000 square feet in Orange County, said real estate broker Jay Carnahan, president of Orion Property Partners Inc.

"CashCall is indicative of the growth in the mortgage financing and consumer finance industry that is once again driving expansion in Orange County," said Carnahan, who represents the lender.

CashCall will start moving into City Plaza in September. Five of the floors it will lease are being vacated by Kondaur Capital Corp., which is currently the building's largest tenant, said Victor Coleman, chief executive of Hudson Pacific Properties.

The office tower is adjacent to the Outlets at Orange, a regional mall with restaurants, movie theaters and stores.

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