Great things are happening in Huntington Beach!
BJ’s Restaurants HQ Stays on Tap in Surf City
By Mark Mueller Monday, March 26, 2018
Casual restaurant chain BJ’s Restaurants Inc., the largest public company based in Huntington Beach and one of the city’s largest office tenants, has struck a deal to keep its headquarters in Surf City.
The company, with a $900 million market value, recently disclosed it decided to stay at the One Pacific Plaza office complex next to the San Diego (405) Freeway and the Bella Terra shopping center.
The headquarters, which the company refers to as its “restaurant support center” is about 56,000 square feet. It was there under a lease that expired at the end of August, but had a five-year renewal option.
It recently exercised the option, it said in its latest annual report filed late last month.
“We are currently negotiating the specific terms of the renewal with the landlord,” the company said.
Data of real estate market tracker CoStar Group Inc. indicates the terms of the new lease have been finalized and the renewal is now complete, allowing the company to continue occupying five floors of the 7755 Center Ave. tower at the three-building complex.
Terms of the lease haven’t been disclosed; the tenant is represented by Chon Kantikovit with the local office of Cushman & Wakefield. The Newport Beach office of CBRE Group Inc. oversees leasing at the complex for the landlord
One Pacific Plaza is owned by an affiliate of Parsippany, N.J.-based Prudential Real Estate Investors, which paid a reported $95 million for it in 2014.
The 383,000-square-foot office campus also houses the local offices of Woodland Hills-based Health Net Inc. and a variety of banking and medical-related tenants. It’s more than 90% leased, CoStar records show.
(Original story can be found: http://www.ocbj.com/news/2018/mar/26/bjs-restaurants-hq-stays-tap-surf-city/)