Hyundai Signs Major Office Lease in Irvine, California

Irvine, California, August 21, 2025

News Summary

Hyundai has finalized a significant full-building lease of 133,745 square feet at 2300 Main St. in Irvine, California, marking a key expansion in Orange County. This lease is one of the largest office transactions in Southern California this year and reflects Hyundai’s growth strategy in the region. The site, previously occupied by OptumRX, highlights Hyundai’s ongoing commitment to increasing its operational footprint with multiple leases already established in Irvine.

Irvine, California – Hyundai has secured a significant full-building lease for 133,745 square feet at 2300 Main St., marking it as one of Southern California’s largest office transactions of the year. This lease also represents the largest deal recorded in Orange County for 2025, illustrating Hyundai’s commitment to expanding its operational footprint in the region.

The office space, previously occupied by OptumRX, was developed in 2002 by LBA Realty and is currently managed by Houston-based Hines, with ownership held by Germany-based Manova Partners Inc. The leasing of the building is being facilitated by CBRE.

Hyundai’s lease at 2300 Main St. signifies the company’s growth strategy, adding to its existing leases in Irvine, which include:

• 123,192 square feet at 3161 Michelson Drive (Hyundai Capital)
• 128,813 square feet at 18191 Von Karman Ave. (Hyundai Glovis)

While the specific Hyundai company responsible for this new lease has not been disclosed, it has been affirmed that Hyundai Motor America did not partake in leasing the space. Hyundai Motor America operates its 503,536 square-foot headquarters located at 10550 Talbert Ave. in Fountain Valley.

In the first five months of 2025, Hyundai recorded sales of 3,674 vehicles in Orange County. However, the company trailed behind major competitors, including Ford, Mercedes, Honda, Tesla, and Toyota. Hyundai’s affiliated companies encompass a range of industries based in South Korea, further reflecting the diversity of the corporation.

The new lease is situated in the Airport Area of Irvine, recognized as the largest office submarket within Orange County. The 2300 Main St. space was noted to be the second-largest available for lease in the Airport Area, following the 241,717 square feet at 3345 Michelson Drive, which is recognized as the largest available block.

According to a Cushman & Wakefield report, some of the top leases in Orange County from April to June 2025 included the Regional Center of Orange County for 102,631 square feet in Santa Ana and UCI Health for 92,489 square feet in Anaheim. Earlier, significant leases for the first quarter of 2025 were reported, including a 54,406-square-foot lease by Inari Medical and a 53,282-square-foot lease by Hyundai Glovis, both in Irvine.

A report by Stream Realty indicated a trend where more tenants in Orange County returned office space than were leasing it, suggesting challenges for the office market’s recovery. Despite these challenges, the CBRE office market report highlighted a 23% increase in leasing activity in Orange County quarter-over-quarter during the second quarter of 2025, hinting at potential improvement in market conditions.

Additionally, Hyundai’s R&D subsidiary, Hyundai America Technical Center, recently signed a pre-lease for 91,600 square feet at LogistiCenter at Irvine II, marking further investment by Hyundai in the region. This affiliate first entered Orange County in 2003 with a lease for 90,000 square feet at 81 Bunsen. It remains unclear if Hyundai will maintain both existing and new locations or opt for a relocation strategy.

There is also a new industrial property being developed, LogistiCenter at Irvine I, which will provide 133,320 square feet of industrial space, scheduled for completion later this year. The Irvine Spectrum area boasts a notably lower industrial vacancy rate of 0.7% in contrast to the countywide average of 3.1%.

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Deeper Dive: News & Info About This Topic

• CoStar: Hyundai Inks One of Southern California’s Largest Office Leases
• Orange County Business Journal: Hyundai Leases 134K Sq. Ft. in Irvine
• Bloomberg: The Billionaire Controlling the US’s Hottest Housing Market
• Google Search: Hyundai office lease Irvine
• Wikipedia: Hyundai

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