Terms of the deal were not disclosed, but asking rates for comparable space recently have been around 95 cents per sf per month, triple net. Chip Wright of the CB Richard Ellis Newport Beach office tells GlobeSt.com that Roland will be relocating soon from 37,000 sf at another location in the Irvine Spectrum.
Wright and Gregg Haly of CB's Newport Beach office represented Roland DGA. Stan Mullin of the Grubb & Ellis Newport Beach office brokered the deal for the building owner, Nikken Inc. of Irvine.
Roland is a manufacturer of products used in graphic arts, fine art, photography, engraving, 3-D modeling and related industries. The company's new facility is a one-story, concrete tilt-up building with mezzanine office space. Roland will occupy the entire building, a free-standing structure built in 1993.
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