Property and credit data provider CoreLogic, whose stock surged 29% Tuesday, will move its headquarters from Santa Ana to Irvine and said it is considering a sale of the company, which triggered the stock rise.
CoreLogic will move to 40 Pacifica in the Irvine Spectrum in late summer 2012, landlord Irvine Co. said. CoreLogic will occupy 170,000 square feet –- about seven and a half floors –- and have prominent signs on the building.
Financial terms of the lease were not disclosed, but the Irvine Co. is asking $2.15 a square foot per month at 40 Pacifica, one of the highest rates in the Irvine Spectrum, according to brokerage Cushman & Wakefield.
CoreLogic emerged as an independent company in 2010 as part of a separation of Santa Ana-based First American Corp. into two publicly traded companies.
“Our new Irvine Spectrum headquarters location is befitting a growing business in the technology and information services industry,” President Anand Nallathambi said.
Shares of CoreLogic jumped after it said it hired Greenhill & Co. to explore a possible sale of the company. The stock closed at $11.35, up 29%.
-- Roger Vincent
Photo: The Pacifica office complex in Irvine. Credit: Irvine Co.
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