Irvine, California, August 21, 2025

News Summary

Hyundai has sealed a substantial office lease of 133,745 square feet at 2300 Main St. in Irvine, marking a significant deal in Southern California’s real estate market. This agreement not only stands as one of the largest office transactions in the area for the year but also positions Hyundai to expand its footprint with existing properties. Despite its growth, the company faces challenges in vehicle sales within the competitive market of Orange County. The development highlights the dynamic nature of the local office space landscape and Hyundai’s commitment to Orange County.

California

Hyundai has signed a significant office lease for 133,745 square feet at 2300 Main St. in Irvine, California. This agreement is one of the largest office transactions in Southern California for the year and marks the largest lease deal in Orange County.

The office space, previously occupied by OptumRX, was developed in 2002 by LBA Realty and is currently managed by Hines, based in Houston. The property itself is owned by Manova Partners Inc., a Germany-based firm, with leasing handled by CBRE.

This lease represents an expansion for Hyundai and adds to the company’s existing real estate in Irvine, which includes 123,192 square feet at 3161 Michelson Drive for Hyundai Capital and 128,813 square feet at 18191 Von Karman Ave. for Hyundai Glovis. However, the specific Hyundai subsidiary that will occupy the new space has not been disclosed, although it has been confirmed that Hyundai Motor America did not sign the lease.

Hyundai’s headquarters, where Hyundai Motor America operates, is located at 10550 Talbert Ave. in Fountain Valley, spanning over 503,536 square feet. Despite the company’s growing footprint, recent sales figures indicate it sold 3,674 vehicles in Orange County during the first five months of 2025, which ranks behind competitors such as Ford, Mercedes, Honda, Tesla, and Toyota.

Local Real Estate Context

The Airport Area, where the new lease is situated, is recognized as Orange County’s largest office submarket. The office space at 2300 Main St. was notably the second-largest block of office space in the area; 241,717 square feet at 3345 Michelson Drive holds the distinction of the largest.

Recent leasing activity in Orange County has shown a mix of trends. According to a report by Cushman & Wakefield, the top leases from April to June include the Regional Center of Orange County with 102,631 square feet in Santa Ana and UCI Health with 92,489 square feet in Anaheim. Earlier in 2025, notable leases included Inari Medical with a 54,406-square-foot lease and Hyundai Glovis with 53,282 square feet, both located in Irvine.

Despite these expansions, a report by Stream Realty noted that more tenants have returned office space than leased new space throughout the year. This has hindered the market recovery, although there are indications of improvement, including a quarter-over-quarter leasing activity increase of 23% in the second quarter of 2025, as per the CBRE office market report.

Hyundai’s Industrial Expansion

Additionally, Hyundai’s R&D subsidiary, Hyundai America Technical Center, has signed a pre-lease for 91,600 square feet at LogistiCenter at Irvine II. The developer and landlord for this new industrial lease is Dermody Properties, which is also developing LogistiCenter at Irvine I, a 133,320-square-foot industrial property set to complete construction later this year. Hyundai’s R&D affiliate first established its presence in Orange County in 2003 with a 90,000-square-foot lease.

It remains unclear if Hyundai will operate both its existing and new locations or if it plans to relocate. The Irvine Spectrum area offers a notably low industrial vacancy rate of 0.7%, compared to the countywide average of 3.1%.

Conclusion

The new lease and expansions by Hyundai signify the company’s growing presence in Irvine and its strategic involvement in one of California’s most sought-after office markets. As leasing activities rebound in Orange County, the full impact of these moves by Hyundai remains to be seen.

Frequently Asked Questions

Deeper Dive: News & Info About This Topic

• Orange County Business Journal
• Google Search: Hyundai Irvine office lease
• Bloomberg
• Encyclopedia Britannica: Hyundai
• Commercial Observer
• Google News: Hyundai lease California

Author: STAFF HERE LOS ANGELES WRITER

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