Ria, one of the largest international money transferring services, has agreed to an expansion lease in Orange County for an additional 60.1k sf of office space, boosting its current occupancy at Village Business Park in Buena Park to 88.7k sf. We’re told that this is the second largest office lease in Orange County for the second quarter of 2020.
Ria, which has been headquartered at Stanton Road Capital’s Village Business Park since 2013, is experiencing rapid growth, driving the demand for additional space. The company wanted to remain at the property due to its central location, accessibility and amenities. Additional terms of the lease were not disclosed.
Village Business Park is a highly visible, Class “A” building located at 7000 Village Dr, just off I-5 near the 91 Fwy. The property spans two buildings totaling 144k sf, with large, flexible floor plates, rare second-story balconies and 800+ surface level parking spaces.
Since purchasing the property in 2018, Stanton Road Capital has heavily invested in improvements that include a fully updated outdoor courtyard designed to be a “second space” for all tenants and modernized main entrance. The property is currently 94% leased.
“As quickly as Ria is growing, we had to expand our space. But, we also wanted to stay at Village Business Park for the reasons it attracted us in the first place. Its central location in Orange County gives us great access to a deep talent pool as we recruit, and our employees really benefit from the improved amenities,” said Ria CEO, Shawn Fielder.
Cushman & Wakefield’s Tom Sheets and Quint Carroll are the exclusive leasing agents for Village Business Park. Cameran Lindee and Scott Kenny at CBRE represented Ria in the deal.