Voit Real Estate Services of Newport Beach has, through its Irvine branch, directed the $4.7 million acquisition of an office property for The Cheesecake Factory. The dining chain will completely occupy the 29,074-square-foot building to house its design division, which produces all the interior design planning and refurbishing for its restaurants.
With its purchase of the office building, located at 8 Corporate Park in Irvine, The Cheesecake Factory, based in Calabasas Hills, solidifies its presence in Orange County, where it has six restaurant locations. The company’s design division had been leasing a different Irvine property for ten years, and it was ready to find a more permanent home.
Trent Walker, a senior vice president at Voit’s Irvine office, represented The Cheesecake Factory in the deal. “We advised our client to take advantage of current market prices in order to secure this high-quality property,” he said. “As the company continues to open new locations and refurbish existing restaurants, our client needed an updated space in a central location to accommodate its design operations.”
The Cheesecake Factory began operating as a small bakery in 1972, and in 1978, it opened its first full-service restaurant in Beverly Hills. The company currently operates 173 restaurants across the country and recently opened its first overseas location in Dubai.
Voit Real Estate Services was founded in 1971 as The Voit Corporation, and for more than forty years, it has owned, developed and managed over 50 million square feet of commercial real estate, and it has completed over $36 billion in brokerage volume across Southern California. Apart from construction and development, the company has also expanded into the areas of asset and brokerage services and capital investment. It has six branches in various Southern California areas from San Diego to Los Angeles, and also maintains offices in Sacramento, Phoenix, Las Vegas, and Reno.
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