News Summary
Hyundai has finalized a lease for 133,745 square feet at 2300 Main St. in Irvine, marking the largest lease deal in Orange County for 2025. The property, previously occupied by OptumRX, is located in the Airport Area and has been developed by LBA Realty. While specific details about which Hyundai subsidiary will occupy the space remain undisclosed, the lease signifies a strategic expansion in a competitive commercial real estate market. Overall leasing activity in Orange County has increased, though challenges persist with many tenants returning space.
Irvine, CA – In a significant move within the commercial real estate market, Hyundai has finalized a lease agreement for 133,745 square feet at 2300 Main St. in Irvine. This transaction has been identified as the largest lease deal of 2025 in Orange County, marking an important expansion for one of Hyundai’s subsidiaries.
The newly leased space, previously occupied by OptumRX, is situated in the Airport Area, which is known as the largest office submarket in Orange County. This property, developed by LBA Realty in 2002, has been managed by Hines, a Houston-based firm, and is owned by Germany-based Manova Partners Inc. Leasing for the property has been handled by CBRE.
While the specifics regarding which Hyundai company will occupy the new space remain unclear, it has been confirmed that Hyundai Motor America is not the party involved. Currently, Hyundai Capital leases 123,192 square feet at 3161 Michelson Drive, also in Irvine. Furthermore, earlier this year, Hyundai Glovis acquired a 128,813-square-foot building for $35.7 million at 18191 Von Karman Ave.
In the context of the broader Orange County office market, the leasing activity in the second quarter of 2025 saw a significant 23% increase, amounting to 1.8 million square feet across 279 deals. Notable leases during the April to June period included two significant transactions: The Regional Center of Orange County leased 102,631 square feet and UCI Health secured 92,489 square feet.
Despite the overall uptick in leasing activity, the Orange County market is facing challenges. Many tenants are returning leased office space rather than expanding their footprint. Reports from Cushman & Wakefield and Stream Realty highlight a situation where market recovery is being impeded by low levels of new leasing activity, suggesting that tenant sentiment may be swayed more by policy announcements than by tangible economic indicators.
The available space at 2300 Main St. is particularly notable as it was the second-largest block of leasable space in the Airport Area, following 3345 Michelson Drive, which offers 241,717 square feet for lease. Comparatively, in the first quarter of 2025, notable leases included Inari Medical, which leased 54,406 square feet, and Hyundai Glovis, which signed for 53,282 square feet, both situated in Irvine.
The Orange County office market shows early signs of recovery despite these challenges, with varying levels of demand across different sectors. Industry experts continue to monitor the shifting commercial landscape, looking for signals of a sustained recovery as more companies reassess their office space needs in a post-pandemic world.
As Hyundai expands its presence in the area, this lease not only underscores the company’s commitment to growth but also adds to the competitive dynamics of the Orange County office market, where demand for quality leased space remains robust.
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Additional Resources
- OC Business Journal: Hyundai Leases 134K Sq. Ft. in Irvine
- Google Search: Hyundai Irvine office market
- CBRE: Pre-Leases 91,600 SF Logisticenter at Irvine II to Hyundai
- Google Scholar: Hyundai lease California industrial Irvine
- PR Newswire: Assembled in America: 2026 Hyundai Ioniq 9 EV
- Encyclopedia Britannica: Hyundai
- Irvine Standard: Hyundai to Develop Flying Taxis in Irvine
- Google News: Hyundai Irvine expansion
Author: STAFF HERE COSTA MESA WRITER
COSTA MESA STAFF WRITER The COSTA MESA STAFF WRITER represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, Concerts in the Park, and Fish Fry. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Boys & Girls Clubs of Central Orange Coast, plus leading businesses in retail, fashion, and technology that power the local economy such as Vans, Experian, and South Coast Plaza. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
