IRVINE, CA - Cushman & Wakefield represented Technos Properties, LLC in the purchase of a 40,852-square-foot mixed-use building at 1621 Alton Parkway in Irvine, Calif. Since closing escrow the three-acre campus, now renamed The Eureka Building, has been transformed from a single-tenant building into a multi-tenant creative space. Senior Associate Shawn Lawrence of Cushman & Wakefield’s Orange County office negotiated the purchase and will serve as leasing agent for the property.
Peter Polydor, founder of Technos and Eureka, created the space to help foster innovation and creativity by giving technology and creative companies in Orange County a home that is centrally located and easily accessible. The Eureka Building will host start-up events and foster mentorship with organizations such as OCTANe and Startup OC. It will also house the Eureka HUB, an innovative workspace and collaborative co-working community focused on entrepreneurs and freelancers.
“Orange County has a diverse ecosystem of entrepreneurs and tech giants. The Eureka Project is meant to be a resource to help bring them together,” said Polydor.
Two companies have already leased space within the building. CSG (Coastal Sports Group), a leading distributor of motorcycle and ATV aftermarket parts, accessories and apparel has leased 8,400 square feet. Another 7,100 square feet has been leased by XPAL Power, a designer and manufacturer of portable power packs. Euro Caffe will serve specialty coffee drinks, Panini and other refreshments in the lobby, as well as offer catering for tech events.
“The Eureka Building provides a one-of-a-kind opportunity for creative or tech companies in Orange County. There has been a growing demand for creative space in Orange County, especially in the Greater Airport Area,” said Lawrence. “The Eureka Building creates the synergy of a Silicon Valley campus in the heart of Orange County. It is truly a phenomenal opportunity for local tech companies.”
Technos Properties, LLC purchased the former regional office of Fox Head from Westcore Properties. Greg Puccinelli, Geoff DeWolf and Steve Economos of Jones Lang LaSalle represented the seller in the transaction.
For more information about the Eureka Project visit www.eurekabuilding.com
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Cushman & Wakefield is the world’s largest privatelyâheld commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
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