Coreland Companies Negotiates Two Leases in Orange County Valued at $3.1 Million

PRLog (Press Release) - Oct 24, 2008 -
TUSTIN, CALIF. – Coreland Companies of Tustin, Calif., one of the largest private real estate service companies based in California, announced that its leasing / sales division has negotiated two leases in Orange County for a total value of approximately $3.1 million.

As the exclusive leasing agent for The Towers at Bella Terra, Steven Hogberg of Coreland Companies negotiated a lease with Orbital Sciences Corporation at The Towers at Bella Terra (formerly known as One Pacific Plaza), a 400,000-square-foot, three-building office complex located in Huntington Beach, Calif. Orbital Sciences signed a five-year lease to occupy a 12,430-square-foot majority portion of the top floor of the six-story building at 7711 Center Avenue. The lease is valued at approximately $2 million. Orbital, an international company specializing in satellite launch and manufacturing, was represented by CB Richard Ellis in McLean, VA. The landlord is Bella Terra Office JV, LLC.

"Orbital had several options in the marketplace and chose The Towers at Bella Terra due to its outstanding location and amenity base, both of which were critical to Orbital," said Coreland’s Leasing / Sales Division Senior Vice President Steven Hogberg. "We are very pleased with completing this transaction and look forward to having Orbital as our newest tenant at Bella Terra." Orbital Sciences is expected to occupy the space by November 1, 2008. The Towers at Bella Terra are located at 7711, 7755 and 7777 Center Avenue in Huntington Beach, adjacent to the one million-square-foot Bella Terra shopping center.

"West Orange County office properties continue to be an increasingly favored location for firms which realize excellent value for their lease dollars along with more favorable commuting between Orange and Los Angeles counties," Hogberg added.   

Coreland’s leasing / sales division has also negotiated a 7.5-year lease with The Glidden Company, dba ICI Paints, to occupy a 4,250-square-foot freestanding building at 3010 Bristol Avenue in Costa Mesa, Calif. The lease is valued at approximately $1.1 million. ICI Paints is a one-stop headquarters for brand name, professional grade painting tools, equipment and supplies. Bryan Bauer of Coreland Companies, located in the company’s Tustin office represented the landlord, Baco Limited, LLC of Newport Beach, Calif., in the lease transaction. The tenant represented itself.

"We remain busy with leasing activity and well-located retail properties, such as this one, proving there are still quality tenants in the market that are expanding or relocating," noted Hogberg.

Coreland Companies is a full-service commercial real estate company with expertise in retail, office and industrial properties. Coreland Companies is based in Tustin, California with offices in Utah and throughout Southern California. For more information, please call the company’s headquarters at (714) 573-7780 or visit www.coreland.com.

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