The four-story facility, which houses Union Bank's Southern California data center, stands on eight acres at 1980 Saturn St. Union Bank developed the property in 1985 and then sold it the same year to Florida-based investment firm Echelon Corp. through a sale-leaseback deal.
The former Echelon Corp., now known as EIN Corp., was taken private last year by a New York-based merchant banking firm.
"Basically, Union Bank wants to control its own destiny by owning its data center," says John Minervini, one of the brokers who worked on the deal. EIN was represented by John Minervini, Jim Myers, Michael Weiss and Erik Larson, all from Cushman & Wakefield. Union Bank was represented in-house.
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