Hyundai Secures Major Office Space Lease in Irvine

Irvine, California, August 21, 2025

News Summary

Hyundai has signed a significant lease for 133,745 square feet at 2300 Main St., Irvine, marking it as one of the largest office transactions in Southern California this year. The property, formerly occupied by OptumRX and managed by Hines, is noted for its prime location in Orange County’s largest office submarket. This expansion includes Hyundai’s newer office lease, joining existing spaces occupied by its affiliates. As the competitive vehicle market continues, Hyundai’s expansion reflects its ongoing commitment to the region amidst market challenges.

Irvine, California – Hyundai has inked a significant lease agreement for 133,745 square feet of office space at 2300 Main St. This deal is regarded as one of the largest office transactions in Southern California for the year and stands out as the top lease agreement in Orange County.

The property was previously occupied by OptumRX and was developed in 2002 by LBA Realty. Currently, it is managed by Hines from Houston, while ownership lies with Manova Partners Inc., based in Germany. The real estate firm CBRE is responsible for managing the lease of the building.

This new leasing agreement represents an expansion for Hyundai, adding to their existing office spaces in the area. Hyundai Capital currently occupies 123,192 square feet at 3161 Michelson Drive, and Hyundai Glovis leases 128,813 square feet at 18191 Von Karman Ave. Additionally, Hyundai Motor America retains ownership of its 503,536-square-foot headquarters located at 10550 Talbert Ave. in Fountain Valley.

While the specific Hyundai company that has taken the new office space has yet to be disclosed, Hyundai Motor America has confirmed that it is not the party involved in this lease transaction. Hyundai’s affiliated companies span various industries and maintain operations across South Korea and beyond.

The Airport Area, where the new office is located, has been recognized as the largest office submarket in Orange County. The space at 2300 Main St. was notably the second-largest block of office space available in the area, surpassing the availability of 241,717 square feet at 3345 Michelson Drive, the largest vacancy.

According to a recent report from Cushman & Wakefield, significant leases in Orange County during the second quarter of 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. Prior leasing highlights for the first quarter featured Inari Medical acquiring 54,406 square feet and Hyundai Glovis leasing 53,282 square feet, both in Irvine.

The leasing landscape has seen challenges, with more tenants in Orange County returning office space than leasing it throughout the year. Market recovery has been sluggish, as evident from the low levels of new leasing activity. However, a 23% increase in leasing activity quarter-over-quarter was noted in the second quarter of 2025, indicating signs of improvement in the market.

Moreover, Hyundai’s R&D subsidiary, the Hyundai America Technical Center, has also signed a pre-lease agreement for 91,600 square feet at the LogistiCenter at Irvine II. This lease is being developed by Dermody Properties, which is also responsible for the forthcoming LogistiCenter at Irvine I, a new 133,320-square-foot industrial property projected for completion later this year. Hyundai’s R&D affiliate first entered the Orange County market in 2003 with a 90,000-square-foot lease at 81 Bunsen.

Despite the current expansion, it remains unclear whether Hyundai plans to maintain operations at both existing and new locations or if they are looking to relocate entirely. The Irvine Spectrum area boasts a low industrial vacancy rate of 0.7%, significantly better than the countywide average of 3.1%.

Market Context

Both before and after this expansion, Hyundai continues to face stiff competition in the Orange County vehicle market. Over the first five months of 2025, Hyundai sold 3,674 vehicles in the area, falling behind major competitors such as Ford, Mercedes, Honda, Tesla, and Toyota.

Conclusion

Hyundai’s new lease in Irvine reinforces the company’s commitment to expanding its operational footprint in the competitive landscape of Southern California, while also highlighting ongoing trends and challenges within the local office market.

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Deeper Dive: News & Info About This Topic

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

Author: STAFF HERE HUNTINGTON BEACH

The Huntington Beach Staff Writer represents the experienced team at HEREHuntingtonBeach.com, your go-to source for actionable local news and information in Huntington Beach, 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 the Huntington Beach Surf City USA Marathon, the U.S. Open of Surfing, Fourth of July celebrations at the Huntington Beach Pier, and community festivals at Huntington Beach Central Park. Our coverage extends to key organizations like the Huntington Beach Chamber of Commerce and Visit Huntington Beach, plus leading businesses in retail, hospitality, and outdoor recreation that drive the local economy. As part of the broader HERE network, including HEREAnaheim.com, HERECostaMesa.com, HERESantaAna.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.