Harbor Expands in Orange County with Third Creative Office Campus

By Alexandra Pacurar, Associate Editor

Bespoke Irvine

Long Beach, Calif.—Harbor Associates purchased a 37,000-square-foot former office building in Irvine that will undergo a Class A conversion project under the name Bespoke Irvine. The transaction was mediated by John Collins, Matt McKinlay and Dave Smith of Lee & Associates, while John Chun, Greg Brown and Jamie Kline of HFF set up the financing arrangements.

Located at 3 Burroughs in Irvine, Orange County the 34-year-old building features 14-foot-high ceilings, two courtyards and more than 150 parking spaces. Bespoke Irvine will benefit from a complete exterior modernization with drought-tolerant landscape, the addition of two new tenant entries, a roll-up glass garage door and outdoor lounge areas.

The property offers easy access to Interstate 5 and Interstate 405, great visibility on Bake Parkway and proximity to the Irvine Spectrum outdoor shopping mall.

“Bespoke Irvine offers customizable entries with prominent signage, inspired architecture, and private outdoor workspaces, which provides a unique product offering for the Irvine Spectrum”, said Joon Choi, Principal for Harbor, in a prepared statement.

The new creative office campus is located in Irvine Spectrum, a submarket that has the lowest direct vacancy in Orange County. Harbor Associates’ office space purchase campaign is in full swing. “Harbor is actively seeking similar value-add opportunities in high demand Southern California submarkets. We have an active pipeline of deals that have similar building traits with the goal of investing $250M in the next twelve months”, said Justin Loiacono, Principal for Harbor.

Harbor Associates is currently developing two other Class A office properties in Tustin and Lake Forest, California.

Image courtesy of The Bascom Group