Founded in 1998, the semiconductor company has already occupied the space at 21 Technology Drive, which is larger than its former space also located in Irvine, according to Bruce Warren, CFO of Ditrans.
"Our company is growing rapidly and so our space needs present special challenges. We leased our initial space in MacArthur Court from The Irvine Company knowing that we could easily expand into larger space with The Irvine Company properties as the company grew," Warren said.
The new space it four times larger than the company's former location, and in closer proximity to prospective employees, both factors in the relocation decision, Warren added.
Barry Gail of Cushman and Wakefield's Irvine office represented Ditrans in the transaction. The Irvine Company represented itself. Average asking full-service rental rates at Irvine Spectrum are $3.01 per sf per month for class A, and $2.65 per sf per motnh for class B. Vacancies have risen to 18.79%, up from 7.69% in 2nd qtr of 2000.
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