Formosa Ltd. Makes Another Generational Buy in Orange County and Taps Lincoln Property Company to Provide Property Management Services for 310,000-Sq.-Ft. Newport Beach Office Campus

Lincoln Property Company (“Lincoln”), a global full-service real estate firm, announced that it has been hired to provide property management and operations services for 5000 Birch Street, a two-building, 310,000-square-foot Class A office campus in Newport Beach, California. The office complex was recently acquired by Formosa Ltd., a venture led by Orange County businessman and philanthropist Joe C. Wen.

“5000 Birch presented an incredible opportunity to partner with Mr. Wen in repositioning a trophy asset and capitalizing on the increasing demand for high-end office space in the Airport Area submarket,” said Parke Miller, Executive Vice President at Lincoln. “We are grateful to expand our partnership with Mr. Wen in Orange County and look forward to delivering Lincoln’s premier service offerings to 5000 Birch.”

5000 Birch is a premier office property offering tenants an unparalleled location within the vibrant 160-acre master planned Koll Center Newport, sitting at the gateway to Newport Beach and the Irvine Business Complex. The site is near world-class restaurants and cafés, several health clubs, and some of the area’s most popular shopping destinations, including Fashion Island and South Coast Plaza. The property offers surface parking, and on-site amenities – including a towel-served fitness center, a new on-site restaurant opening soon, and a conference and event space –that are demanded by many modern office users.

“Our strategy has always been to invest in well-located, high-potential office assets that provide long-term value to tenants and the local community,” shared Mr. Wen. “5000 Birch Street represents a tremendous opportunity to further strengthen our presence in Orange County. We plan to make strategic upgrades to ensure this property meets the evolving needs of today’s workforce. Engaging Lincoln to manage this asset was a natural progression of our partnership, which is built around our firms’ mutual commitment to providing world-class service to our clients.”

In addition to 5000 Birch, Lincoln currently provides property management services for Formosa at One Pacific Plaza in Huntington Beach and Symphony Towers in San Diego.

Matt Didier and Jessie Tichelaar of CBRE will handle the leasing for 5000 Birch Street, which currently has large-block availability of up to 60,000 square feet.

“The Orange County office market has momentum, with demand for high-quality office space driving significant rent growth in recent quarters,” said Matt Didier, Senior Vice President at CBRE. “5000 Birch is well-positioned to capitalize on these market dynamics, offering a rare combination of prime location, exceptional quality, modern amenities, and large floor plates with a variety of available space that appeal to today’s tenants. We are open for business and ready to do deals!”

Chet A. Cramin and Jacob L. Bedingfield of MusickPeeler served as legal counsel to Mr. Wen to navigate and close the transaction process.

Mr. Wen is an active philanthropist in the Orange County community. He recently committed to establishing a local police substation at One Pacific Plaza and has donated $20 million to UC Irvine for the Center for Advanced Care, which now bears his name at the new UCI Health–Irvine complex. Additionally, he made a $50 million donation to the newly created Joe C. Wen School of Population and Public Health—one of the largest gifts in UC Irvine’s history.

About Lincoln Property Company

Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 562 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 164 million square feet of development since its inception in 1965 and has another $19.5 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.

About Formosa Ltd.

Founded by Joe C. Wen, Formosa Ltd is a multinational conglomerate and renowned for its five core businesses – venture capital, financial lending, real estate holding and development, property management, and forest-products manufacturing and trading. Formosa, which has a history of identifying and seizing business opportunities, is committed to improving every day and supporting its clients in every way.