The Targus building, at 1211 North Miller St., is one of five buildings that make up the Anaheim Technology Center, which was built in 1999 and is listed as 100% leased in the latest Kilroy Realty annual report. Terms of the lease were 57 cents per square foot per month, triple-net, with 3% annual increases, adjusted in the 30th month.
Targus was represented by senior vice president Thomas Murphy and executive vice president Jeffrey B. Ingham of Jones Lang LaSalle, who also represent Targus on international locations. Kilroy was represented by Rob Socci and Brian Corrigan of Voit Commercial Brokerage.
Targus chose to stay in the Kilroy building after considering locations in the Inland Empire as well as Central Orange County, Targus chief financial officer Vic Streufert said in a statement. He said that the company, which has 45 offices worldwide and distribution in 145 countries, concluded that remaining at Murphy notes that the Targus building is located in a redevelopment area that includes a new Kaiser Permanente Hospital, a renovation of a former Boeing Campus and a mixed-use transit oriented residential development with access to the Metrolink and freeway systems.
The Anaheim Technology Center is part of a Kilroy North Orange County industrial portfolio that totals about 3.7 million square feet and was 93% occupied at the end of the third quarter of 2008, according to Kilroy execs who commented during the REIT's third-quarter conference call in October.
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