Odetics Inc. Completes Sale-Leaseback

ANAHEIM, CA-The publicly traded technology company Odetics Inc. has sold its two-building headquarters to an LLC for $22.6 million.

Located at 1515 and 1585 South Manchester, the two-building project encompasses 257,840 sf. Built in 1965, the office development underwent an extensive renovation when Odetics acquired it in 1984.

In the recent sale, Mike Hefner of the Anaheim Metro office of Voit Commercial Brokerage acted on behalf of both Odetics and the buyer, 1515 South Manchester LLC.

Odetics, which provides products, systems and services for public roadways, public and private facilities and digital communications, has been headquartered here since 1984. The company will continue to occupy part of the project, as it will be leasing the 179,000-sf facility at 1515 South Manchester from the new owner.

The project’s other building, which encompasses 78,000 sf, is available for rent by a single user. Located at 1585 South Manchester, the flex-tech facility includes an on-site cafeteria, a 4,000-sf gym and a 1,125-sf swimming pool. It is zoned for entertainment, industrial or retail types of businesses, Hefner says.