Press Release

CBRE ANNOUNCES LEASE TO TECH FIRM EPHESOFT AT NEWLY REMODELED OFFICE BUILDING IN IRVINE, CA

25 1 2018

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CBRE announced a lease at a newly remodeled office building to software company Ephesoft, Inc. in Irvine, CA.

Scott Kenny, Carter Haslam and Garrett Ellis of CBRE represented the tenant, a developer of document capture and analytics solutions that extract actionable data from unstructured content.

“We were pleased to be able to find an immediate, creative and cost-effective opportunity, especially in one of the most competitive submarkets in Orange County,” said Haslam. “Ephesoft was able to start moving in right away, allowing them to focus on the growth of their core business and not skip a beat.”

Ephesoft moved into the newly renovated, fully furnished, single-tenant building located at 8707 Research Drive. The tenant, which has 130 employees, including 45 at its Orange County headquarters with several open positions to support its rapid growth, required an instant opportunity for its imminent expansion and a flexible lease term. The company also desired a unique and creative workplace conducive to its recruitment and continued growth efforts.

The 15,000-square foot building recently underwent a $3 million remodel and now features a two-story lobby with immaculate modern architectural detail. The property is walking distance to several amenities in the Los Olives Marketplace and in a highly desired location in the Irvine Spectrum submarket.

“This is an exciting time of growth and expansion for Ephesoft,” said Ike Kavas, the company’s CEO. “CBRE provided us with multiple options and worked hard to help us get the space that better represents our brand and culture.”

The Irvine Spectrum submarket is home to many software and tech firms and provides an edge for young companies looking to recruit talent in Orange County’s highly competitive labor market. According to CBRE’s Tech Talent Report, Orange County led the country for rising office rents over the past two years. Average office asking rents climbed 24% to $33.00 per rentable square foot from Q2 2015 to Q2 2017. The area’s top talent submarket – South Orange County – saw average rents reach $34.20 during the most recent period.

The landlord, FTP International, was represented by Ross Bourne and Keith Black of CBRE. 
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.