Updated Oct 15, 2026
Marsh McLennan Agency LLC Signs 32,819-Square-Foot Lease At 250 Progress In Irvine CA
250 Progress
Building Size
32,819 SF
Asset Type
Office
Closing
Oct 13, 2026
About this deal
AI
The property involved in this transaction is a creative office building located at 250 Progress in Irvine, California. The building encompasses a total square footage of 64,441, with the specific lease involving 32,819 square feet. The asset is situated in a market that has seen significant strengthening, particularly within Orange County.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 250 Progress
- Market: Irvine, CA
- Landlord: Donald Bren - Irvine Company
- Tenant: Marsh McLennan Agency LLC
- Square Footage: 32,819
- Building Size: 64,441
Donald Bren represents the landlord, Irvine Company, in this lease agreement with Marsh McLennan Agency LLC. This transaction reflects a growing demand for office space in the area, as indicated by the notable increase in third-quarter leasing activity and rising Class A asking rents.
On the Map
Office
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Irvine Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93