Metropolis Tower rises 20 tales in Orange, Calif. Picture courtesy of Stream Realty Companions
Stream Realty Companions has been chosen to lease Metropolis Tower, a 435,177-square-foot workplace constructing in Orange, Calif. Govt Managing Director & Accomplice Marty Pupil, Managing Director Mike Adams, Vice President Peter Joyce and Senior Affiliate Morgan Adams will spearhead all leasing efforts on the property.
Metropolis Tower’s proprietor is Opal Holdings, CommercialEdge knowledge exhibits. The corporate bought the 20-story asset in July 2021 for $150.5 million, with acquisition financing supplied via First Tech Federal Credit score Union.
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The most important workplace constructing within the Central Orange County submarket got here on-line in 1988 and underwent beauty renovations in 2016. The LEED Gold-certified property encompasses a health middle, convention middle, boardroom, café, full-service auto detailing and a six-story parking storage. Tenants embrace Regus, Harrell & Co., Schmid & Voiles, York and Wilner & O’Reilly, in response to the identical supply.
Situated on practically 5 acres at 333 Metropolis Blvd. W., Metropolis Tower is close to Interstate 5, State Route 22 and State Route 57, often known as The Orange Crush interchange, offering transportation entry all through the county and bigger Southern California space. Downtown Orange is a few 2 miles east, whereas downtown Los Angeles is roughly 30 miles away.
Workplace leasing stalls in Orange County
Metropolis Tower is just not Stream’s first workplace leasing task within the space. Earlier this 12 months, the corporate turned the unique leasing agent of a five-building workplace campus in Laguna Hills, Calif. Mike Adams, Peter Joyce and Morgan Adams are additionally offering advertising and marketing companies for the 225,000-square-foot property.
The Orange County workplace market has seen an uptick in vacancies through the third quarter, in response to a Cushman & Wakefield report. The emptiness price clocked in at 19.7 % on the finish of September, marking a 110-basis-point enhance over the quarter and 450-basis-point development on a year-over-year foundation.
