JLL represented Maztech Industries in 17,500 s.f. industrial lease for new headquarters
News release
19 April 2023
Manufacturer expands in Irvine, California
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IRVINE, Calif., April 20, 2023 – Confirming continued demand for Orange County industrial space, JLL announced today that Maztech Industries, a leading manufacturer of military and commercial electro-optical systems, has signed a 17,500-square-foot lease at 1641 Reynolds Avenue in Irvine, California.
JLL’s Xavier Nolasco and Steve Wagner represented Maztech Industries in the lease. The landlord, The Donald Spencer DeVries Trust, was represented by John B. Collins of Lee & Associates.
“After an extensive search, Maztech Industries chose this building because of its modern features, recent renovation and location,” said Xavier Nolasco, JLL Vice President. “We were able to negotiate a lease term that was beneficial to Maztech while providing minimal disruption.”
According to JLL’s Q1 2023 Orange County Industrial Insights report, leasing activity increased 40 percent quarter-over-quarter. Additionally, despite increasing for the first time in two years, vacancy remained historically low at 1.4 percent.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.