Orange County-Based Merchant Services Fintech Company Expands Amid Heightened Ecommerce Activity – CBRE
18 May 2020
Orange County, Calif. – CBRE announced that Electronic Commerce, an Orange County-based merchant services fintech company, signed a 10,300 square-foot lease in Newport Beach, Calif.
CBRE’s Rick Sherburne and Matt Sherburne represented Electronic Commerce in the lease agreement. The landlord, Olen, was self-represented.
The company leased space at 4100 Newport Place, a class A, nine-story office building featuring automated entry doors, on-site ATM, café and four-story parking garage. The property was originally built in 1990 and recently underwent a $5.2 million capital improvement program.
The building is strategically located within one half-mile of the SR 73 freeway, 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.
“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.”
Matt Sherburne added, “After touring through the Orange County market, Electronic Commerce selected 4100 Newport due to its unique central location and high-quality amenities.”
Electronic Commerce is currently headquartered in Orange, Calif. and will move into the new space in Newport Beach on November 1st.
“While we continue to see consumer spending trending from brick and mortar retail to online, we wanted to position ourselves in the heart of Orange County to provide in-person value to our thriving clients,” said Darnell Ponder, vice president of Electronic Commerce. “We still share the old school values with new school strategies and believe that face-to-face time with our customers simply cannot be replaced.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.