Dec. 8, 2000
Contact: Donna Hahn
Hahn Communications
(949) 458-3983
WESTERN STATES TECHNOLOGIES ANNOUNCES THREE
NEW IRVINE SPECTRUM LEASES
IRVINE, CALIF. – The Irvine, Calif., office of Western States Technologies, a Los Angeles, Calif.-based real estate investment company, has signed three new leases at three of the company’s Irvine Spectrum properties for a combined total lease value of $3.6 million.
The first lease was signed with J-MAR Semiconductor to occupy 100 percent of a 26,000-square-foot industrial/corporate headquarters facility at 1 Vanderbilt in Irvine, Calif. The five-year lease is valued at $2 million. J-MAR designs and manufactures high-performance semiconductors for the international telecommunications market, focusing on telephone, video and computer networks. Western States Technologies was represented by Trent Walker and Jeff Diltz of Voit Commercial Brokerage’s Irvine office. J-MAR was represented by Mark Weeks, also with Voit’s Irvine office.
The second transaction, signed with Data Connection, is for a five-year, $1 million lease for 15,000 square feet at 3 Goodyear in Irvine. Data Connection will occupy 50 percent of the industrial/corporate headquarters facility, which will serve as the firm’s assembly, storage and distribution center for electronic semiconductor components and software development. Western States Technologies was represented by Trent Walker of Voit Commercial, with John Matus and Christine Bowen of Lee & Associates’ Irvine Spectrum office representing Data Connection.
In addition, Virtium Technology has signed a three-year lease, valued at $600,000, for 14,000 square feet at 51 Parker in Irvine. Virtium Technology will occupy the entire building and use the corporate headquarters/industrial space for the design and manufacturing of high-density memory for the telecommunications, medical imaging and industrial automation industries. Jeff Carr of CB Richard Ellis’s Newport Beach, Calif., office and independent broker John Salmon of Newport Beach represented Western States Technologies in the lease. The tenant was represented by Mike Nguyen of Irvine-based Stop Realty.
According to Todd Miller, vice president of Western States Technologies, the new leases were executed in record time for the company -- an average of 35 days from the time each of the properties became available.
“We’re seeing a tremendous surge in demand for this type of space in the Spectrum, where availability of existing space is diminishing fast,” said Miller. “The Spectrum market continues to tighten up, making it tougher for technology companies to find quality space with desirable floorplans. We’re very pleased to welcome each of these companies to their new locations.”
Western States Technologies was established in 1985 in Los Angeles, Calif. The company concentrates on the successful development, acquisition and rehabilitation of industrial and office properties. Currently, the company owns and manages a mixed-use portfolio totaling more than one million square feet with more than 100 tenants in Los Angeles, Orange, Riverside and San Bernardino counties. 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 six years.
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