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5/19/20
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Electronic Commerce leased 10.3k sf of office space in Newport Beach. The firm, an Orange County-based merchant services fintech company, signed a deal at 4100 Newport Place, a Class A building owned by Olen.
Built in 1990, the nine-story building features automated entry doors, on-site ATM, café and four-story parking garage. The property recently underwent a $5.2 mil capital improvement program.
The building is strategically located within one half-mile of the SR 73 Fwy, which connects Newport Beach to the rest of Orange County via nearby interchanges with SR 55 and I-405. The property is less than two miles from John Wayne Airport, the primary airport in Orange County.
CBRE’s Rick Sherburne and Matt Sherburne represented Electronic Commerce, which will relocate from Orange into the new space on November 1st. Olen was self-represented. Terms of the lease were not disclosed.
“Electronic Commerce is one of the fastest growing merchant services fintechs,” said Rick Sherburne. “Over the last few months, their revenues have increased dramatically due to heightened ecommerce activity, resulting in the need to expand their footprint by 75 percent.”
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