Irvine, California, August 21, 2025
News Summary
Hyundai has signed a full-building lease for 133,745 square feet at 2300 Main St., marking the largest office lease in Orange County for 2025. This expansion highlights Hyundai’s growth amid a competitive office market, following a trend of increased leasing activity in the region, despite recent downturns. The property was previously occupied by OptumRX and illustrates Hyundai’s ongoing commitment to the area. The specific entity occupying the new space remains undisclosed, raising speculation about the potential operational plans for the expanded office footprint.
Irvine, California — Hyundai has significantly broadened its real estate presence in Irvine by signing a full-building lease for 133,745 square feet at 2300 Main St., marking it as one of the largest office transactions in Southern California for the year.
This leasing agreement stands out as the largest deal in Orange County for 2025, underlining both Hyundai’s continuing growth and the competitive nature of the local office market. The property was previously occupied by OptumRX and was developed in 2002 by LBA Realty, now managed by Houston-based Hines and owned by Germany’s Manova Partners Inc. Leasing efforts are being overseen by CBRE.
This new office space will be an expansion for Hyundai, which already occupies 123,192 square feet at 3161 Michelson Drive, Irvine (Hyundai Capital), and 128,813 square feet at 18191 Von Karman Ave., Irvine (Hyundai Glovis). Additionally, the company owns its North American headquarters, which spans 503,536 square feet at 10550 Talbert Ave. in Fountain Valley.
Though Hyundai has made this substantial lease agreement, it has not publicly disclosed which specific Hyundai entity has secured this lease. Hyundai Motor America has confirmed it is not the one leasing the space, contributing to some speculation regarding the nature of the expansion.
Market Context
The Airport Area, where this new lease is situated, is recognized as the largest office submarket in Orange County. The 2300 Main St. location was the second largest available office space in the submarket, closely following a larger space at 3345 Michelson Drive, which has 241,717 square feet.
Despite the new lease, recent reports indicate a downturn in leasing activity in Orange County, with more tenants returning office spaces than securing new leases throughout the year. A Cushman & Wakefield report highlights that notable leases signed between April and June included significant transactions such as the Regional Center of Orange County’s 102,631 square feet lease in Santa Ana.
In contrast, Hyundai’s recent leasing activity does reflect an emerging trend. A report from CBRE noted a quarter-over-quarter increase of 23% in leasing activity in Orange County during the second quarter of 2025, suggesting that despite cautious market behavior, some sectors are gradually recovering.
Hyundai’s Industrial Expansion
In addition to its office lease, Hyundai’s R&D subsidiary, the Hyundai America Technical Center, has secured a new industrial pre-lease for 91,600 square feet at LogistiCenter at Irvine II. The developer for this new site is Dermody Properties, which also manages the development of LogistiCenter at Irvine I – a 133,320-square-foot industrial property set for completion later this year. Hyundai’s R&D presence in Orange County dates back to 2003, further showcasing its commitment to the area.
The exact plans regarding the operational capacity of these multiple leased locations remain unclear. Whether Hyundai will consolidate its operations at the new venue or maintain its existing offices is still to be determined.
Conclusion
The leasing deal at 2300 Main St. demonstrates Hyundai’s expansion endeavors in Orange County, alongside market dynamics that indicate a complex landscape for office space leasing in the area. As industry trends shift, Hyundai’s continuing investment in office and industrial space reflects both its growth ambitions and the ongoing evolution of workplace needs in the region.
FAQ
What is the size of Hyundai’s new lease in Irvine?
The new lease covers 133,745 square feet at 2300 Main St.
Is this the largest office lease in Orange County for 2025?
Yes, it is noted as the largest lease deal of the year in Orange County.
Who owns the new leased property?
The property is owned by Manova Partners Inc., based in Germany.
Which Hyundai entities are currently leasing space in Irvine?
Hyundai Capital and Hyundai Glovis are currently leasing office space in Irvine.
What recent trends are observed in the Orange County office leasing market?
There has been a trend of more tenants returning office space than leasing new ones, although there has been a 23% increase in leasing activity quarter-over-quarter.
| Key Feature | Details |
|---|---|
| Location | 2300 Main St., Irvine, California |
| Lease Size | 133,745 square feet |
| Largest Lease Deal | Largest lease of 2025 in Orange County |
| Previous Tenant | OptumRX |
| Property Owner | Manova Partners Inc. |
| Property Manager | Hines |
| Current Occupancy | Hyundai Capital, Hyundai Glovis |
| Market Observation | 23% increase in leasing activity (2Q 2025) |
Deeper Dive: News & Info About This Topic
- CoStar: Hyundai Inks One of Southern California’s Largest Office Leases of the Year
- Orange County Business Journal: Hyundai Leases 134K Sq. Ft. in Irvine
- Bloomberg: The Billionaire Controlling the U.S.’s Hottest Housing Market
- Wikipedia: Real Estate in Orange County, California
- Google Search: Hyundai Irvine Lease News
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.
