Wing Lung Bank to Move its U.S. Headquarters to Newport Beach’s Fashion Island
Newport Beach, CA, Thursday, October 01, 2015–In one of its most prestigious transactions to date, NAI Capital represented Wing Lung Bank on their negotiations for a 10-year lease with The Irvine Company at 520 Newport Center Dr, in Newport Beach, Calif.
Senior Vice President Tom Nguyen with NAI Capital and Nelson Chau, an independent Broker, advised Wing Lung Bank Limited on the 17,630 square foot lease of the entire 16th floor. Wing Lung Bank Limited has been operating in Hong Kong for over 80 years and is a wholly owned subsidiary of China Merchants Bank, the 6th largest commercial bank by total assets in China. It is currently among the top 50 banks in the world.
520 Newport Center Drive is the Irvine Company’s newest and most prestigious office building that features panoramic views of the Pacific Ocean, Fashion Island Mall and green rolling hills. The 21-story tower totaling 326,065 square feet, fashioned in Italian Travertine and lined by palm trees makes it the ideal surroundings for a cooperate headquarters.
Wing Lung Bank Limited is moving its U.S. Headquarters from its current location in Alhambra, California. It will be the first Chinese run bank to enter the Newport Center area.
Nguyen said, ” Wing Lung Bank is a world-class institution catering to the top echelon of companies and clientele from Asia. They needed a corporate headquarters to match. The 16th floor of 520 Newport features sweeping views of the Pacific Ocean on one side and Fashion Island and rolling green hills on the other. It does not get much better than this anywhere. Nelson Chau and I are proud to have represented WLB in securing this top of the market space.”
The Irvine Company said, “We would like to welcome Wing Lung to Newport Center and are pleased they have chosen 520 Newport Center as their U.S. headquarters. Wing Lung’s decision to lease here is validation of Newport Center’s appeal as a prestigious destination for top businesses from around the globe. We are confident that Wing Lung’s employees and customers will enjoy an inspiring lifestyle experience unlike anything else in the marketplace.”
Wing Lung Bank Executive Vice President Dr. Jianyin Peng said, “The new U.S. headquarters meets the bank’s U.S. expansion strategy and allows the bank to provide top class service to Los Angeles, Orange County and San Diego metropolitan specific areas. We are confident that the move-in will bring forth Chinese customers and investors in these communities. We thank and value NAI Capital’s professional and patient advice, as well as the Irvine Company’s elite business practices and cooperation.”
About NAI Capital
NAI Capital Company is one of the Southern California’s leading full-service commercial real estate organizations, providing a complete range of transaction, property management and consulting services. NAI Capital is one of the largest members of NAI Global, a premier real estate service network with 375 offices and 6,700 market leaders spanning the globe. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, corporate occupants and investors throughout Southern California. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
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To learn more, visit www.naicapital.com
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.
To learn more, visit www.naiglobal.com