Life Time has signed a full-building lease at Lakeshore, a 900,000-square-foot mixed-use campus in Irvine, Calif. As one of the anchor tenants, the high-end lifestyle brand will occupy 90,000 square feet.
The member-based athletic resort is expected to open in the second half of 2022. The lease also includes 24,000 square feet of exclusive outdoor space.
Located at 18007 Von Karman Ave., the space will include amenities for group exercise as well as cycle, yoga and Pilates studios dedicated to all age groups. Life Time will provide a fitness center spanning an entire floor, while outdoor facilities will encompass a fitness area, swimming pool and beach club. A LifeCafe and LifeSpa will also be part of the retreat, while children aged between three months to 11 years old can enroll in the Kids Academy.
Operated by SENTRE, the Class A business hub features high- and mid-rise buildings, with a total of 750,000 square feet designated for office use and 150,000 square feet of retail and restaurant space. The campus is also home to a 2-acre lake and The Park at Lakeshore, a Wi-Fi-enabled and amenitized park redesigned by Gensler.
Amenities at Lakeshore encompass a variety of options including outdoor exercise opportunities, weekly food trucks, upscale dining, auto detailing, meeting spaces, common area Wi-Fi, dry cleaning services, seasonal outdoor entertainment and valet service.
The campus is southeast of Interstate 405 and less than a mile northwest of the John Wayne Airport. Lakeshore is centrally located within the Irvine Business Complex, providing convenient access to numerous hotels, restaurants and shopping venues.
Senior Vice President of CBRE Scott Riddles along with Senior Associate Trace Rouda facilitated the deal on behalf of the tenant. Cushman & Wakefield’s Executive Director Robert Lambert, Executive Vice Chairman Rick Kaplan and Executive Director Greg Brown represented the landlord.
Signs of revival
Orange County’s office vacancy stood at 12.7 percent as of June, according to CommercialEdge data. The market’s vacancy rate remained virtually unchanged on a month-over-month basis. Nearby, in metro Los Angeles, the market’s office vacancy continues its slow and steady recovery, sliding 50 basis points month-over-month, to 13.1 percent as of June, but below the national 15.6 percent.