Morgan Concepts signed an eight-year lease in October of 2000 to occupy the 46,000-sf "Building B" at 5921 Skylab Rd. The $2.7-million agreement contained an option to purchase, which Morgan subsequently exercised.
Morgan was represented by Wayne Lambert of Colliers Seeley in the $4 million transaction. Brad Bierbaum of CB Richard Ellis' Anaheim office acted on behalf of Master Development Corp., the Newport Beach-based real estate development and general construction company.
The 5921 Skylab Rd. facility is one of two buildings that make up the Skylab Corporate Center, a 107,600-sf speculative industrial project. The complex was developed by a joint venture between Master Development and Guardian Life Insurance Co.
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