Irvine, California, August 21, 2025
News Summary
Hyundai has signed 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 2025. This lease, the largest in Irvine for the year, adds office space to Hyundai’s existing properties while facing challenges in vehicle sales within the competitive Orange County market. The property, previously leased by OptumRX, is managed by Hines and owned by Manova Partners Inc., indicating a strong investment in the region despite fluctuating leasing trends.
Irvine, California – Hyundai has made a significant move in the business landscape of Orange County by signing a full-building lease for 133,745 square feet at 2300 Main St. This deal is recognized as one of Southern California’s largest office transactions of 2025 and stands out as the largest lease agreement in Irvine for the year.
Previously leased by OptumRX, the property was developed in 2002 by LBA Realty. The building is currently managed by Hines, a Houston-based firm, and is owned by Manova Partners Inc., a company based in Germany. The leasing arrangement is being handled by CBRE.
This new office space marks an expansion for Hyundai, adding to its existing properties in the area. Currently, Hyundai operates 123,192 square feet at 3161 Michelson Drive and 128,813 square feet at 18191 Von Karman Ave. Hyundai Motor America maintains its headquarters at 10550 Talbert Ave., which spans 503,536 square feet.
Despite the boost in office space, Hyundai’s performance in vehicle sales within Orange County indicates challenges in the competitive automotive market. In the first five months of 2025, Hyundai reported sales of 3,674 vehicles, placing it behind major competitors such as Ford, Mercedes, Honda, Tesla, and Toyota.
While the specific Hyundai division leasing the new office has not been disclosed, Hyundai Motor America confirmed it is not the entity entering this lease deal. The company consists of various affiliated firms headquartered in South Korea, operating across different sectors.
The Airport Area, where the new office is located, is noted as Orange County’s largest office submarket. The 2300 Main St. property was the second-largest block of office space currently available in this area. For context, the largest available block is 241,717 square feet at 3345 Michelson Drive.
The leasing activity in the region has shown fluctuating trends. A report from Cushman & Wakefield highlighted that notable leases signed from April to June included the Regional Center of Orange County, which secured 102,631 square feet in Santa Ana, and UCI Health, leasing 92,489 square feet in Anaheim. Earlier transactions in 2025 included Inari Medical’s lease of 54,406 square feet and Hyundai Glovis’ 53,282 square feet lease, both in Irvine.
Despite these transactions, a Stream Realty report noted a trend where more tenants are returning office space than seeking to lease it across Orange County. This trend has created headwinds for market recovery, although some signs of improvement are emerging. According to the latest CBRE office market report, there was a 23% increase in leasing activity in Orange County from the first to the second quarter of 2025, indicating some resilience in the sector.
Hyundai’s recent leasing activities aren’t limited to office spaces. The company’s R&D subsidiary, Hyundai America Technical Center, has also signed a pre-lease for 91,600 square feet of new industrial space at LogistiCenter at Irvine II, developed by Dermody Properties. This R&D division initially entered the Orange County market in 2003 with a lease for 90,000 square feet at 81 Bunsen.
Details remain unclear regarding whether Hyundai will operate both the existing and newly leased locations or if a relocation is planned. Dermody Properties is also expected to complete its development of LogistiCenter at Irvine I, a 133,320-square-foot industrial property, later in 2025, which may further influence the dynamics of the region’s leasing market.
FAQ
What is the significance of Hyundai’s new lease in Irvine, California?
The lease for 133,745 square feet at 2300 Main St. is one of the largest office transactions in Southern California and the largest for the year in Orange County.
Who is managing the new office building leased by Hyundai?
The building is managed by Hines, an investment and development firm based in Houston, and owned by Manova Partners Inc. from Germany.
What other office spaces does Hyundai currently occupy in Irvine?
Hyundai currently leases additional spaces including 123,192 square feet at 3161 Michelson Drive and 128,813 square feet at 18191 Von Karman Ave.
How has Hyundai been performing in terms of vehicle sales in Orange County?
Hyundai sold 3,674 vehicles in the first five months of 2025, placing it behind competitors such as Ford, Mercedes, Honda, Tesla, and Toyota.
What other leasing activities have been noted in Orange County recently?
A Cushman & Wakefield report identified other significant leases including the Regional Center of Orange County and UCI Health. However, a trend of returning office spaces rather than leased spaces has been observed in the region.
| Feature | Details |
|---|---|
| New Lease | 133,745 square feet at 2300 Main St., Irvine |
| Previous Tenant | OptumRX |
| Year Developed | 2002 |
| Property Manager | Hines |
| Owner | Manova Partners Inc. |
| Other Hyundai Leases | 3161 Michelson Drive (123,192 sq ft), 18191 Von Karman Ave (128,813 sq ft) |
| HQ Location | 10550 Talbert Ave., Fountain Valley (503,536 sq ft) |
| Recent Sales | 3,674 vehicles sold in Orange County (Jan-May 2025) |
| Market Position | Behind competitors: Ford, Mercedes, Honda, Tesla, Toyota |
Deeper Dive: News & Info About This Topic
- CoStar: Hyundai Leases One of Southern California’s Largest Office Leases
- OC Business Journal: Hyundai Leases 134K Sq Ft in Irvine
- Commercial Observer: Hyundai Lease in California Industrial Area
- Bloomberg: The Billionaire Controlling the US’s Hottest Housing Market
- CBRE: CBRE Pre-Leases 91,600 SF Logisticenter to Hyundai
- Wikipedia: Hyundai Motor Company
- Google Search: Hyundai sales 2025
- Google Scholar: Hyundai Irvine lease
- Encyclopedia Britannica: Honda
- Google News: Hyundai Irvine California
Author: STAFF HERE CORONADO
The Coronado Staff Writer represents the experienced team at HERECoronado.com, your go-to source for actionable local news and information in Coronado, 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 the Coronado Island Film Festival, productions at Lamb’s Players Theatre, community workshops at John D. Spreckels Center, and iconic celebrations at Hotel del Coronado. Our coverage extends to key organizations like the Coronado Chamber of Commerce and Visit Coronado, plus leading businesses in hospitality, dining, and tourism that drive the local economy. As part of the broader HERE network, including HERESanDiego.com, HEREHuntingtonBeach.com, HERELongBeach.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
