Newport Beach Towers Completed : Two MacArthur Court Office Buildings 30% Leased

MacArthur Court--that twin, 15-story office tower complex across the street from John Wayne Airport--has opened and is 30% leased.

That’s what James E. Bell, vice president of sales and marketing for the Irvine Office & Industrial Co. (a division of The Irvine Co.), says, and MacArthur Court is a project of the division.

The towers, with 557,000 square feet of leasable office space, have attracted a savings and loan group, an international commodities brokerage, a major law firm, a software systems corporation and a Las Palmas cafe. The first tenant in the $100-million project was Cal Fed Mortgage of Los Angeles, a subsidiary of California Federal Savings & Loan.

It occupies 9,000 square feet on the sixth floor of the south tower at 4675 MacArthur Court, Newport Beach. The transaction has an aggregate lease value of $850,000. California Federal Commercial Banking, another division, will share the space.

The law firm--Los Angeles-based Sheppard, Mullin, Richter & Hampton--has leased 19,480 square feet, with an aggregate lease value of $4.7 million.

Other tenants include San Mateo-headquartered International Trading Group, which has taken 8,257 square feet with a lease value of $965,000, and Micro Data Base Systems, with more than 6,000 square feet valued at $635,000.

Koll Construction Co. built the towers, and Skidmore, Owings & Merrill planned and designed them.

Each building has six elevators, column-free floors and individually-controlled heat and air conditioning. A five-level parking garage has space for 1,850 vehicles.