Wednesday, May 4, 2011
ORION Property Partners, Inc. Represents Surterre Properties, Inc.,in 19,592-SF Lease Modification at 1400 Newport Center Drive, Newport Beach, CA
IRVINE, CA, May 4, 2011, -- ORION Property Partners, Inc., has announced the completion of the restructure, modification, and extension of Surterre Properties, Inc.’s 19,592-square-foot lease at 1400 Newport Center Drive in Newport Beach, Calif.
Surterre Properties is a full-service residential real estate solution encompassing more than 250 top-ranked real estate professionals. The firm sells more residential real estate from its Newport Beach headquarters than any other single office in Orange County.
ORION Property Partners, Orange County’s leading commercial real estate brokerage firm, represented the tenant, Surterre Properties, in the transaction. The Irvine Company, the building owner, represented itself in the six-year lease valued at approximately $4.5 million.
The real estate firm hired Jay Carnahan and Troy Leland of ORION Property Partners because of their deep market knowledge, longstanding relationships with the Irvine Company, and their unique insight on restructuring win-win lease transactions.
1400 Newport Center is part of the Irvine Company’s Corporate Plaza (top left photo), a collection of low-rise, class A steel framed office buildings in close proximity to Fashion Island and Corona Del Mar Plaza.
For more information, visit ORION at http://www.oppre.com/
Contact: Darcie Giacchetto, Spaulding Thompson & Associates, Inc., 949-278-6224