Irvine, California, August 21, 2025
News Summary
Hyundai has made a significant expansion in Irvine, California, signing a full-building lease for 133,745 square feet at 2300 Main St. This deal marks one of the largest office transactions in Southern California for the year and is the largest in Orange County. Previously leased by OptumRX, the building is managed by Hines and owned by Manova Partners Inc. Hyundai continues to explore growth opportunities in the area, boosting its office footprint in a highly competitive market.
California – Hyundai has made a significant move in the commercial real estate market by signing a full-building lease for 133,745 square feet at 2300 Main St. in Irvine, California. This lease is highlighted as one of the largest office transactions of the year in Southern California and stands out as the largest in Orange County for the year. The property was previously leased by OptumRX and was developed by LBA Realty in 2002. The building is managed by Hines, a Houston-based firm, and is owned by Germany-based Manova Partners Inc. The leasing of the building is being handled by CBRE.
This lease represents an expansion for Hyundai, adding to its existing office footprint in Irvine, which already includes 123,192 square feet at 3161 Michelson Drive (leased by Hyundai Capital) and 128,813 square feet at 18191 Von Karman Ave. (leased by Hyundai Glovis). Hyundai Motor America’s headquarters is located at 10550 Talbert Ave. in Fountain Valley, occupying a total of 503,536 square feet.
While the exact division of Hyundai responsible for this new office has not been disclosed, Hyundai Motor America has confirmed that it is not the entity leasing the space. Hyundai is known for its various affiliated companies in South Korea that operate across different industries, complicating the distinction between the entities involved.
The Airport Area, where this new lease is located, is recognized as Orange County’s largest office submarket. The 2300 Main St. property was the second largest block of office space available in this area, with a total of 241,717 square feet available at 3345 Michelson Drive being the largest. Recent real estate activity in Orange County has shown a number of substantial leases being signed, including the Regional Center of Orange County for 102,631 square feet and UCI Health for 92,489 square feet.
Despite the strong leasing activity, a report from Cushman & Wakefield indicates that more tenants have given back office space than have leased it throughout the year. The overall market recovery has been hampered by low levels of new leasing activity, but there are signs of improvement. A CBRE report noted a 23% increase in leasing activity in Orange County in the second quarter of 2025 compared to the previous quarter, indicating a shifting market sentiment influenced more by policy announcements than by economic fundamentals.
Hyundai’s move in the real estate sector does not stop with this new lease. Earlier this year, the company’s R&D subsidiary, the Hyundai America Technical Center, signed a pre-lease for 91,600 square feet at the LogistiCenter at Irvine II. The landlord and developer for this new industrial lease is Dermody Properties, a company also involved in the development of LogistiCenter at Irvine I, which will house 133,320 square feet of industrial space expected to be completed later this year. The R&D affiliate first entered Orange County in 2003 with a 90,000-square-foot lease at 81 Bunsen.
The industrial vacancy rate in the Irvine Spectrum area is currently 0.7%, considerably lower than the countywide average of 3.1%. However, it remains unclear whether Hyundai will maintain both existing locations or decide to relocate. Overall, Hyundai’s expansion efforts reflect its ongoing commitment to establishing a significant presence in California’s competitive marketplace.
FAQ
What is the recent leasing deal that Hyundai signed in Irvine?
Hyundai signed a full-building lease for 133,745 square feet at 2300 Main St. in Irvine, California.
What significance does this lease have?
This deal is recognized as one of the largest office transactions of the year in Southern California and is the largest lease deal in Orange County for 2025.
Who is managing the building leased by Hyundai?
The building is managed by Houston-based Hines and owned by Germany-based Manova Partners Inc.
What are Hyundai’s existing leases in the Irvine area?
Hyundai has existing leases including 123,192 square feet at 3161 Michelson Drive and 128,813 square feet at 18191 Von Karman Ave.
What trends are being observed in Orange County’s office leasing market?
While there are strong lease signings, there is a trend of more tenants returning office space than leasing new space. The market’s recovery has been slow but shows signs of improvement.
Key Features of Hyundai’s Recent Lease
| Feature | Details |
|---|---|
| Location | 2300 Main St., Irvine, California |
| Square Footage | 133,745 square feet |
| Notable Rankings | Largest lease deal in Orange County for 2025 |
| Previous Occupant | OptumRX |
| Development Year | 2002 |
| Management | Managed by Hines |
| Ownership | Owned by Manova Partners Inc. |
| Current Leasing Activity | Increased by 23% in Q2 2025 |
Deeper Dive: News & Info About This Topic
- Orange County Business Journal
- CoStar News
- Bloomberg
- Google Search: Hyundai leases office space in Irvine
- Wikipedia: Hyundai
Author: Anaheim Staff Writer
Anaheim Staff Writer The Anaheim Staff Writer represents the experienced team at HEREAnaheim.com, your go-to source for actionable local news and information in Anaheim, 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 major conventions at the Anaheim Convention Center, including NAMM and VidCon, exciting games at Angel Stadium and Honda Center, and developments at Disneyland Resort Our coverage extends to key organizations like the Anaheim Chamber of Commerce and Visit Anaheim, plus leading businesses in hospitality, entertainment, and innovation that power the local economy As part of the broader HERE network, including HERECostaMesa.com, HEREHuntingtonBeach.com, HERESantaAna.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
