Irvine Company Amasses Nearly 200K SF of Q1 Leases in Silicon Valley

Irvine Company said Wednesday it recorded strong leasing activity in Silicon Valley for the first quarter of 2024, totaling 198,500 square feet. Irvine Company continues to outperform the market with nearly 90% of its Silicon Valley portfolio leased, 900 basis points more than the region’s overall lease rate of 81%.

The momentum dovetails with the company’s recent completion of a $10-million reinvestment at Santa Clara Gateway. As part of the reinvestment, the outdoor areas at Santa Clara Gateway have been transformed. The reinvestment also brings a second fitness center and new lounge to 2600 Great America Way and updates to the lobby at 5455 Great America Parkway.

“Our strategic reinvestments in our Silicon Valley portfolio reflect Irvine Company’s ability to invest in our workplaces regardless of market conditions and highlight the importance of choosing not only where your company works, but who your landlord is,” said Roger DeWames, president, Irvine Company Office. “There is continued demand for premium office space as companies want to provide high-quality, experience-driven workplaces that excite teams and align with their brand, vision and culture.”