IRVINE, CA-Applied Medical Resources Corp., an Orange County-based maker of medical devices, has paid $45 million for two vacant buildings totaling 271,000 sf on a 20-acre complex that was originally built for Mazda Motors of America, according to Grubb & Ellis. Applied acquired the property from the Los Angeles-based Kilroy Realty Corp. REIT to serve as an auxiliary campus for the company.
The new Applied assets are a 244,000-sf industrial building at 9401 Toledo Way and a 27,000-sf office building at 9451 Toledo Way in the Irvine Spectrum. The deal also included 6.5 acres of vacant land that can accommodate a third office or R&D building up to 125,000 sf, according to the brokers.
Applied Medical was represented by Kelly Nicholls and Kendra Van Note of Grubb & Ellis|BRE Commercial San Diego and Keith Kropfl of Travers Realty Inc. Kilroy was represented by Tim Joyce and Oliver Fleener of the Newport Beach office of Grubb & Ellis.
Applied Medical currently owns and or occupies more than 250,000 sf in nearby Rancho Santa Margarita, the home of its headquarters, and is the largest employer in the City of Rancho Santa Margarita with more than 760 workers at its Orange County facilities. The company will continue to maintain its headquarters in Rancho Santa Margarita, with the new Irvine Spectrum location as an auxiliary campus.
Applied Medical also has plans to develop the site, including a potential third industrial/R&D facility on the adjoining 6.5 acres, according to the brokers on the deal. The company manufactures a broad range of products and technological devices used in surgery and treatment of medical conditions, with all of its manufacturing operations in Orange County.
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