Panelview, a subsidiary of White Electronic Designs that manufactures high performance, optically enhanced liquid crystal displays. The seven-year lease reportedly begins at about $.91 cents per sf and ramps up from there.
Keith Young of Norris Beggs & Simpson represented Transwestern and co-owner Meadowlark Partners in the transaction. Jay Jacobsmuhlen, owner of Lance Denning Properties represented White Electronic Designs Corp.
The lease comes at a time when the majority of the news from the Sunset Corridor features the high vacancy rates, such as the Industrial/Flex market. According to market research at Norris, Beggs & Simpson, flex vacancy is over 20%, including sublease space.
William Rodes, chief accountant at White Electronic Designs Corp., says he liked the West Union Business Park for three main reasons – location, size, and neighbors. "One of the main reasons we liked this space so much was that it was near other growing, high-tech companies. This type of area generally attracts employees with high technical skills."
When completed, West Union Business Park will consist of up to eight buildings containing 350,000-sf of office, flex and industrial space. Three buildings containing 122,000 sf have been completed, one of which is being fully occupied by Panelview. Current tenants in the other two buildings include BOC Edwards, and Tuality Healthcare. Outside the park but nearby are FEI, TriQuint, Fujitzu, NEC, and Intel to name a few.
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