Diebold ATM Systems Fills 28,000 SF

According to Brett Racanelli, an associate vice president with the Los Angeles office of UGL Equis, one factor that weighed heavily in Diebold's decision to move to Cypress was finding the appropriate asset type for the ATM and security firm's consolidation. Racanelli, who represented Diebold in the lease, explains that, through its move to the Chip Avenue building in the 200-acre Warland Cypress Business Center, Diebold "has been able to build out a brand new high-image facility to reflect the company's new office standards and improve departmental efficiencies by consolidating the administrative, training and warehousing operations."

Rick Sabol, director of facilities and administration for Diebold, says that the Canton, OH-based firm wanted "to consolidate our warehouse operation in Cypress and our administrative functions in Brea," and to do so, "We needed to find the right space that would accommodate both office and industrial use" and make it easy for the company's nearly 80 employees to move into the new facilities. One reason for the consolidation, according to Sabol, was that "Because of the fast-paced technology environment in which we operate, it was necessary for us to upgrade our operations in order to remain competitive." In the company's new location, he explains, work station configurations are more open, with fewer private offices, which enhances collaboration. A new training center will be built at the building, and improved loading functions will be created for warehousing operations, he adds.

Diebold holds the leading market position in supplying ATM machines in many countries around the world. The company also provides security solutions to financial, retail and commercial customers.

In addition to Racanelli, Diebold was represented by UGL Equis senior vice presidents Brad Armstrong and Rory Murray, both from the firm's Research Triangle Park office in Durham, NC. The building owner was represented by Brian DeRevere of CB Richard Ellis. Terms of the deal were not disclosed; recent market reports peg the average asking office rates in Orange County at about $2.77 per sf per month, industrial rates at about 75 cents on a triple-net basis and R&D rates in the range of $2 triple-net.