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IRVINE, CA-SMC Networks Inc. has inked a $2.1-million lease for an industrial building in the Irvine Spectrum.

The company, which distributes and sells networking products, will be relocating from its current site at Hughes, also within the Irvine Spectrum. SMC Networks’ new facility encompasses 33,400 sf. It is located at 38 Tesla.

SMC Networks Inc. was represented by Christine Bowen and John Matus of Lee & Associates Irvine Spectrum office. Don Yahn of Cushman and Wakefield in Irvine represented the lessor, RDJH Enterprise Inc.

The county’s industrial sector is beginning to cool somewhat, as lease rates have begun to drop, according to a recently released report by Cushman & Wakefield. Lease rates decreased from $1.63 per sf in June to $1.50 per sf for the third quarter, the report says. However, the vacancy rate is still historically low, as it stood at 5.7% countywide for the third quarter.

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