CALABASAS, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Ixia has renewed and expanded its lease in the Corporate Center Calabasas here. The new 10-year lease is worth an estimated $26 million that will expand its space from 85,000 square feet to 113,000 square feet.
With the expansion space, Ixia will occupy four of the buildings at the Corporate Center Calabasas and will continue to use 26601 Agoura Rd. as its headquarters. The buildings are owned by Lincoln Property Co., which was represented by Tom Dwyer from CBRE. The Corporate Center Calabasas contains eight buildings totaling 360,991 square feet which were mostly built in 1989.
Representing the tenant was Cushman & Wakefield’s Ted Simpson, executive director, and Michael Ma, associate director in the firm’s L.A. office. According to Simpson, a key hurdle to overcome in the transaction was that Ixia needed to grow its footprint across multiple buildings while maintaining flexibility.
The new lease and increase in space come on the heels of Ixia’s recent acquisition of Anue Systems and the pending acquisition of Breaking Point Systems, both based in Austin, TX, according to a prepared statement. The increase in Ixia’s services, products, and resources requires additional space, and the renewed commitment and expansion to its current headquarters location will provide ample growth potential to accommodate Ixia’s long-term goals, the release states.
“We basically had to create a ‘campus’ environment within a larger project as well as reconfigure the existing layout to accommodate new lab/manufacturing space…all while maintaining strict capital discipline,” adds Simpson.
CBRE wasn’t able to respond to GlobeSt.com regarding occupancy of the building by deadline.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
