LA JOLLA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced that it has negotiated a new 12.5-year, 106,760-square-foot research and development industrial lease on behalf of Airbus DS Communications in Temecula. The lease is valued at $21 million. The company, one of the world’s largest providers of mission critical communications solutions, will use the space for its North America headquarters.
Avison Young principal Corey Martin represented the tenant. Avison Young principal Stan Nowak represented the landlord, Zevo Drive Holdings. Martin and Nowak are both based in the company’s La Jolla office.
“Airbus is consolidating its operations from two other locations in Temecula, totaling approximately 97,500 square feet, in order to achieve better efficiencies of operation, accommodate current and future expansion needs and enhance employee collaboration. Move-in is anticipated for early 2018,” Martin said.
Located at 41995 Zevo Drive, Temecula, Airbus will occupy 48 percent of the 223,360-square-foot, multi-tenant facility situated on nearly 19 acres of land. With this latest lease, the property is now 84 percent occupied. The property is atypical for the area, as it offers the ability for an 80-percent-plus-office build-out due to its high number of employee parking spaces, which are typically sought by research and development users as opposed to industrial users that require significantly less.
“The Temecula industrial market is seeing a sub-2 percent industrial flex vacancy rate which posed a major challenge to identify ideal options for the tenant,” Nowak said. “This was an off-market transaction that proved to be the best and only viable opportunity in the Temecula Valley for Airbus as it had a unique requirement of an 80 percent office build-out. Additionally, it was an ideal fit for the landlord as there are very few research and development users in the region.”
The property is strategically situated near the convergence of the 215 and 15 freeways with direct access to the greater Orange County, Riverside County and San Diego County markets. Additionally, the facility is just 15 miles east of the Pacific Ocean and 4 miles west of the French Valley Airport. Promenade Regional Mall is within 1.5 miles and is home to over 100 stores including national chains, dozens of restaurants and a 15-screen Edwards Cinema. Downtown Temecula is near the property as well and offers some of the area’s best retail, restaurants, nightlife and entertainment. Additional area amenities include multiple golf courses, resorts, wine country and Pechanga Resort and Casino.
Airbus is leading the way in standards-based Next Generation 9-1-1, land mobile radio and emergency notification. The company is part of the Airbus business line, Secure Land Communications, providing secure radio communications worldwide.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 79 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
Airbus is a global leader in aeronautics, space and related services. In 2016, it generated revenues of 67 billion euros and employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airliners from 100 to more than 600 seats. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as Europe’s No. 1 space enterprise and the world’s second largest space business. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.
Airbus DS Communications is a global leader and trusted source for mission-critical communications technologies. The VESTA product suite provides Next Generation 9-1-1 call processing systems, land mobile radio solutions and emergency notification applications, creating smarter ways to keep all communities safe. Airbus DS Communications was awarded the Frost and Sullivan’s 2016 Best Practices Award as the NG 9-1-1 Company of the Year. For more information, visit www.airbus-dscomm.com.