CBRE Completes 136,612-SF Full-Building Industrial Lease at Irvine Commerce Center for Ares Real Estate Fund

CBRE has completed a full-building industrial lease totaling 136,612 square feet at Irvine Commerce Center, a Class A facility located at 18582 Teller Ave. in Irvine, California, the firm announced July 28, 2026. The owner, an Ares Commercial Real Estate fund, was represented by CBRE in the transaction, while Marq Logistics — Ares' vertically integrated global logistics real estate platform — developed the building and continues to manage the property.

Deal Details and Leasing Team

CBRE Executive Vice Presidents Ross Bourne and Ross Fippinger, along with Senior Associate Joe Czech, represented the ownership in securing the full-building lease. The property sits on a 6.25-acre lot and includes approximately 13,275 square feet of high-end office space with upgraded finishes, alongside modern industrial features designed to accommodate a range of distribution and light manufacturing uses.

"We continue to see sustained demand for high-quality industrial space across Orange County," said Ross Bourne, executive vice president at CBRE. "The deal highlights the resiliency of the Airport Area industrial market."

The tenant and lease economics, including rent, term length, and tenant improvement allowances, were not disclosed.

Property and Location

Irvine Commerce Center is situated along Jamboree Road within Irvine's Airport Area submarket, providing immediate access to the Interstate 405 freeway and proximity to Newport Beach. The surrounding Irvine Business Complex offers a broad range of walkable amenities, a characteristic that has supported continued tenant demand in the submarket.

The Airport Area benefits from its position near John Wayne Airport and major regional freeways, as well as access to a sizable labor pool across Irvine and adjacent cities. Orange County is a largely built-out market with constrained industrial land availability, particularly around the airport and coastal corridors, making a modern 136,000-plus-square-foot single-tenant building a relatively scarce offering in this submarket.

Ares Real Estate and Marq Logistics Platform

Marq Logistics, Ares' vertically integrated global logistics real estate platform, both developed Irvine Commerce Center and manages the asset on behalf of the Ares Real Estate fund. The platform's integrated development and management model is focused on modern, infill industrial facilities near major population centers and transportation infrastructure.

Orange County Industrial Market Context

The lease comes amid what CBRE describes as sustained demand for high-quality industrial space in Orange County. Coastal, infill industrial markets — including Orange County's Airport Area — have continued to post low vacancies and elevated rents, even as national industrial market conditions have normalized from post-pandemic peaks. The limited availability of new industrial land in Orange County, combined with the Airport Area's access to affluent coastal communities and major transportation corridors, has kept competition for well-located, functional space elevated among tenants.

CBRE is the world's largest commercial real estate services and investment firm, with more than 155,000 employees serving clients in more than 100 countries. The Dallas-headquartered company, listed on the NYSE as CBRE, operates through four business segments: Advisory, Building Operations & Experience, Project Management, and Real Estate Investments.

Sources

CBRE Press Release — CBRE Completes Full-Building Industrial Lease at Irvine Commerce Center in Orange County (July 28, 2026)