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Shea Properties Sells NorCal Apartments at a Loss; High-End Irvine Condos Garner Interest
REAL ESTATE
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Irell & Manella LLP is keeping its upscale Fashion Island address after signing what appears to be the largest lease for a law firm in Orange County this year.
The law firm, which counts about 55 attorneys locally, is said to have renewed the lease for its offices at 840 Newport Center Drive, according Io sources. The firm, which counts about 240 lawyers in total, is based in Century City.
Irell & Manella leases about 56,000 square feet of space at the Newport Center building, which is owned by the California State Teachers' Retirement System.
The renewal is said to be for the same amount of space for another seven years. The firm declined to comment on the lease.
Irell & Manella ranked No. 12 on the Business Journal's list of largest area law firms, which came out in January and is ranked by number of local lawyers. They're the third-largest law finn in the offices around Fashion Island, behind No. 3 Stradling Yocca C'arlson & Rauth and No. 6 O'Melveny & Mcyers LLP.
At the...