Two 10-Year R&D Leases Total $17 Mil

POWAY, CA-Two technology companies have signed leases for research and development space in this growing business powerhouse.

GenRad Inc., a Massachusetts-based manufacturer of electronic automatic test equipment and related software, signed a 10-year lease for 37,627 sf of research and development space in the Parkway Tech Centre.

The lease deal is valued at $7 million. Burnham Real Estate Services represented the lessor, Shamrock/Poway Investors I. The Staubach Company represented the lessee.

In the other deal, Remec Inc., a San Diego-based designer and manufacturer of high frequency subsystems used in wireless communications, signed a 10-year for 80,878 sf of R&D space in the Parkway Centre Five Business Park.

Remec Inc. will pay $11 million over the life of the lease. Burnham Real Estate Services represented the building owner, Parkway Centre Five Investors. CB Richard Ellis represented the lessee.