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Donna Hahn
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LASALLE BANK SIGNS
NEW LEASE WITH WESTERN STATES
TECHNOLOGIES FOR IRVINE SPACE
IRVINE, CALIF. - The Irvine, Calif., office of Western States Technologies
Inc., a Los Angeles-based real estate investment firm, has announced that
LaSalle Bank has signed a lease for 25,000 square feet at 1842 Barranca Parkway
in Irvine. The five-year lease transaction is valued at $1.1 million.
According to Todd Miller, vice president of Western States Technologies, LaSalle
Bank will occupy 100 percent of the space and plans to use it as a record
storage facility. LaSalle Bank, established in 1927 and headquartered in Chicago,
maintains an A+ rating by Standard and Poor's and has more than $107 billion
in assets.
"LaSalle Bank was seeking a centralized Orange County location for record
storage and this property provided an ideal space for data consolidation,"
Miller said. "LaSalle Bank is one of the country's most prestigious business
leaders, and we look forward to a long-term relationship with representatives
from their Southern California operations."
The property, situated near the intersection of Barranca Parkway and Redhill
Avenue, is easily accessible from either the 405 Freeway or 55 Freeway. The
one-story building is demised into 6,000 square feet of office space and 19,000
square feet of warehouse space. The location also features two loading bays.
Western States Technologies was represented by Dave Desper and Tom West of
the Newport Beach, Calif., office of CB Richard Ellis. LaSalle Bank was represented
by Kevin Turner from Colliers Seeley's Irvine office.
Western States Technologies was established in 1985. The company concentrates
on the successful development, acquisition and rehabilitation of industrial
and office properties. Currently, Western States Technologies owns and manages
a mixed-use portfolio totaling more than one million square feet in Los Angeles,
Orange, Riverside, San Bernardino and San Diego counties.
The company's tenants include such global business leaders as Baxter Pharmaceutical,
Dow Chemical, Gerber Technologies, International Paper, Jacuzzi, Kaiser Aerospace,
MCI WorldCom, Mikasa, Oakley, R.C. Cola, Rockwell International and Union
Carbide, among others. By incorporating its strong, hands-on asset management
approach, the company has averaged occupancy rates of more than 97 percent
portfolio-wide over the past five years.
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