SOURCE: Bixby Land Company

October 11, 2016 11:05 ET

Balfour Beatty Signs New Lease With Bixby Land Company at Avalon

NEWPORT BEACH, CA--(Marketwired - Oct 11, 2016) - International building contractor Balfour Beatty Construction, LLC has signed a seven-year lease with Bixby Land Company to occupy 9,875 square feet at Avalon, the innovative office building developed by Bixby at 1501 Quail Street in Newport Beach, Calif.

In fact, Balfour Beatty liked the creative buildout Bixby had designed for its own offices at Avalon enough that this became the space the new tenant chose to lease, furnishings included.

Balfour Beatty is relocating from 2 Park Plaza in Irvine, Calif., and will take occupancy early next year. Bixby will continue to operate its corporate headquarters at Avalon, relocating within the building to a suite of similar size. 

Balfour Beatty was represented by Taylor Wood and Jeff Manley of CRESA, while Bixby was represented by Jay Nugent and Greg Puccinelli of JLL. Lease terms were not disclosed. 

"This lease represents the depth and breadth of tenant interest for progressive work space, and surpasses the tenant profile we had in mind when we developed Avalon," said Aaron Hill, chief operating officer at Bixby.

The building's design appeals to firms that value a vibrant work environment for their employees. The entry features a high-volume atrium lobby accented with custom music tracks, and several tenant spaces offer full-height sliding glass doors that open to private outdoor decks or Juliet balconies.

Avalon features a second floor indoor/outdoor lounge, The Loft, where tenants can relax and recharge. The building is also dog friendly, provides beach cruisers for tenants' use, and has an electric vehicle charging station.

Bixby has signed previous leases at Avalon with XOJET and Brandtailers, and has three remaining suites available, including two spec suites of 4,216 square feet and 3,071 square feet, plus a 13,388-square-foot suite with its own private entrance and dedicated restrooms. The project is represented by Bob Thagard and John Harty of Cushman & Wakefield.

Separately, Bixby is nearing completion on the redesigned CERRO, a four-story office building at 27401 Los Altos in Mission Viejo, Calif., meeting the demand for professional office space in a supply-constrained South County submarket.

About Bixby Land Company
Bixby Land Company is a leading commercial real estate operator and investment manager with a portfolio of industrial, office and R&D properties of approximately $1 billion. The company invests in core industrial properties and develops office and R&D properties, all in select Western U.S. markets. For 120 years, Bixby Land Company has been committed to adding value for its investors and shareholders. www.bixbyland.com.

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