According to the terms of the $2.2-million agreement, International Color Posters Inc. will occupy 50,000 sf at the property. The company, which runs a corporate headquarters and printing facility in Lake Forest and a digital lab in Irvine, plans to consolidate some of its operations at the recently leased property. ICP expects to be fully operational in the Foothill Ranch facility, which stands at 19651 Alter, by March 1, 2002.
"ICP's growth and expanding clientele necessitated its move to a larger facility that could better accommodate its printing services and business operations," says Todd Miller, vice president of Western States Technologies, the Los Angeles-based real estate investment company that owns the building.
Gregg Haly of CB Richard Ellis' Newport Beach office represented both Western States Technologies and ICP in the transaction.
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