Lease agreements may not seem like much of a newsworthy topic, but here in Orange County, the word that Amazon is moving to town is spreading like wildfire!

The location in question is the Spectrum Building at 40 Pacifica in Irvine. This high-end office building, until last year, was the home of an FDIC satellite office. The FDIC, as you may recall, has been in charge of swooping into communities to clean up the messes that the recent financial crisis has left behind. Namely, this “clean up” has been in the form of managing receiverships and liquidating the assets of failed financial institutions.

However, last year the FDIC elected not to renew its lease in the Spectrum Building, freeing up about 110,000 square feet of office space. And according to CoStar Group Inc., a2z Development (a unit of Amazon) is set to move into the building in July of 2012.

So Why is This Such Good News?

The fact that the FDIC no longer feels it is necessary to maintain an office in Orange County is a clear sign of improving health in the financial sector—significantly helping to lift the cloud of economic doubt in Orange County. But even more exciting is how filling up that office space with the likes of a2z Development will positively impact the local economy. For starters, this means a boost in jobs. In fact, the a2z Development website has already listed openings for over a dozen jobs in its new Orange County office. This inlcudes positions for game designers, lead engineers and software developers.

A boost in jobs in Orange County could very well translate into an influx of new homebuyers, which is very good news for the health of Orange County real estate. Moreover, Amazon’s continued presence in Orange County will likely bolster the local economy, as Amazon and Amazon employees bring money into the community—also great news for Orange County real estate!