Irvine, California, August 21, 2025
News Summary
Hyundai has secured a major office lease of 133,745 square feet at 2300 Main St. in Irvine, marking the largest office transaction in Orange County for 2025. Previously occupied by OptumRX, this lease highlights Hyundai’s expanding presence in the area despite a slight decline in vehicle sales. The company already leases multiple spaces in Irvine, including Hyundai Capital and Hyundai Glovis. This new office is part of a significant expansion strategy in Southern California. The property is managed by Hines and owned by Manova Partners Inc.
California – Hyundai has secured a significant office space with a full-building lease of 133,745 square feet at 2300 Main St. in Irvine, marking it as one of Southern California’s largest office transactions of 2025. This lease is the largest deal in Orange County for the year, indicating the company’s expanding footprint in the region.
The newly leased office space was previously occupied by OptumRX and was developed in 2002 by LBA Realty. Managing the property is Hines, based in Houston, while ownership lies with Manova Partners Inc., a company from Germany. CBRE is overseeing the leasing arrangement for the building.
This lease marks an expansion for Hyundai, adding to its current presence in Irvine, which includes leasing:
- 123,192 square feet at 3161 Michelson Drive (Hyundai Capital)
- 128,813 square feet at 18191 Von Karman Ave. (Hyundai Glovis)
Hyundai Motor America owns its 503,536-square-foot headquarters located at 10550 Talbert Ave. in Fountain Valley.
In addition to its growing office space, Hyundai has experienced a slight decrease in vehicle sales in Orange County. For the first five months of 2025, the company reported sales of 3,674 vehicles, falling behind competitors including Ford, Mercedes, Honda, Tesla, and Toyota. The specific Hyundai company that entered the new lease is not disclosed, but Hyundai Motor America confirmed its non-involvement in this lease.
The new office located in the Airport Area of Irvine, recognized as Orange County’s largest office submarket, offers sizable blocks of office space. The 2300 Main St. location was the second-largest available in the Airport Area, with 241,717 square feet at 3345 Michelson Drive being the largest.
According to a report by Cushman & Wakefield, top leases signed in Orange County between April and June include the Regional Center of Orange County for 102,631 square feet in Santa Ana and UCI Health for 92,489 square feet in Anaheim. Previous notable leases in the first quarter of 2025 featured Inari Medical’s 54,406-square-foot lease and another 53,282 square feet taken by Hyundai Glovis, both based in Irvine.
A market report from Stream Realty indicated that tenants in Orange County have been returning office spaces more than leasing new ones throughout the year. Although there are hurdles to the market’s recovery due to low leasing activity, the CBRE office market report noted a 23% increase in leasing activity quarter-over-quarter in the second quarter of 2025. It highlighted that current market sentiment is more influenced by policy announcements than by economic fundamentals.
Hyundai’s growth in the area also includes a new industrial pre-lease by its R&D subsidiary, the Hyundai America Technical Center, leasing 91,600 square feet at LogistiCenter at Irvine II. The developer and landlord for this new industrial lease is Dermody Properties. Hyundai’s R&D affiliate has had a presence in Orange County since 2003, starting with a 90,000-square-foot lease.
The agreement raises questions about Hyundai’s operations, as it is uncertain whether the company will maintain both existing and new locations or opt for a relocation. Additionally, Dermody is developing another property, LogistiCenter at Irvine I, which will comprise 133,320 square feet of industrial space and is projected to complete construction later this year. Notably, the Irvine Spectrum region boasts an industrial vacancy rate of only 0.7%, significantly lower than the countywide average of 3.1%.
FAQ
- What is the significance of Hyundai’s new lease in Irvine?
The lease of 133,745 square feet at 2300 Main St. represents one of the largest office transactions in Southern California for the year and is the largest lease deal in Orange County. - What companies does Hyundai own in Southern California?
Hyundai’s office presence includes Hyundai Capital and Hyundai Glovis, along with Hyundai Motor America’s headquarters in Fountain Valley. - What are the factors affecting the office leasing market in Orange County?
The office leasing market is currently facing challenges due to a higher return rate of office spaces than new leases being signed, although there has been a recent increase in leasing activity. - Who manages 2300 Main St.?
The property is managed by Hines, with ownership held by Manova Partners Inc. - What new industrial space has Hyundai acquired?
Hyundai’s R&D subsidiary has signed a new pre-lease for 91,600 square feet at LogistiCenter at Irvine II, developed by Dermody Properties.
Key Facts Chart
| Aspect | Details |
|---|---|
| Lease Size | 133,745 square feet |
| Location | 2300 Main St., Irvine, CA |
| Significance | Largest office lease in Orange County, one of the largest in Southern California |
| Existing Leases | Hyundai Capital (123,192 sq ft), Hyundai Glovis (128,813 sq ft) |
| Hyundai Headquarters | 10550 Talbert Ave., Fountain Valley (503,536 sq ft) |
| Leasing Company | CBRE |
| Property Manager | Hines |
| Owner | Manova Partners Inc. |
| New Industrial Lease | 91,600 sq ft at LogistiCenter at Irvine II |
Deeper Dive: News & Info About This Topic
- Orange County Business Journal
- Bloomberg
- Commercial Observer
- CBRE Press Release
- USA Today
- Wikipedia: Irvine, California
- Google Search: Hyundai
- Google Scholar: Hyundai Motor America
- Encyclopedia Britannica: Hyundai
- Google News: Hyundai Irvine lease
Author: STAFF HERE SAN DIEGO WRITER
SAN DIEGO STAFF WRITER The SAN DIEGO STAFF WRITER represents the experienced team at HERESanDiego.com, your go-to source for actionable local news and information in San Diego, San Diego 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 Comic-Con International, San Diego County Fair, and San Diego Pride Festival. Our coverage extends to key organizations like the San Diego Regional Chamber of Commerce and United Way of San Diego County, plus leading businesses in biotechnology, healthcare, and technology that power the local economy such as Qualcomm, Illumina, and Scripps Health. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECostaMesa.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
