October 25, 2021 9:00 AM
Newmark  announces it has completed a 6,000-square-foot headquarters office lease CAVU Business Park, located at 18872 Macarthur Boulevard in Irvine, California. This is the first lease signed at the property since its repositioning began.
“We are excited to be relocating our corporate headquarters to the CAVU Business Park. It is a privilege to be the first tenant in this amazing development,” said Pete Morris, President, TWINSTEPS architecture. “We see this as an opportunity to continue our company’s growth locally, regionally and nationally.”
Newmark Managing Directors Richard Sung and Andrew Robben and Associate Daniel Nabavi represented the landlord, Camphor Partners, in the lease negotiation. The lease represents the team’s first agency transaction with Camphor Associates in Orange County. This transaction was the inaugural lease at the property, part of the Ceiling and Visibility Unlimited (CAVU) Business Park. Newmark also provides property management services for the campus. JLL’s Scott Wetzel represented the tenant.
The CAVU Business Park is comprised of two, 50,000-square-foot, four-story office buildings, located at 18952 MacArthur Boulevard and 18872 Macarthur Boulevard. The properties are undergoing a complete renovation to include new mechanical systems, elevator cabs, landscaping, enclosed lobby and common areas. The renovations will also include the addition of highly creative, move-in-ready spec suites with glass windows to offer natural lighting.
The complex’s name, Ceiling and Visibility Unlimited, is an aviation term denoting the ideal flight condition for pilots and is a nod to the project’s proximity to John Wayne Airport. Additional amenities include a conferencing facility, on-site restaurant and free surface parking. The property is also within a short drive to multiple commuter rail lines.
According to Newmark Research, touring and leasing activity have been ramping up in the Orange County market as pandemic-related restrictions ease and workers begin to return to the office. Space inquiries are growing, and more longer-term requirements and negotiations are taking place
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.2 billion for the trailing twelve months ending June 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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