Communications and aviation electronics company Rockwell Collins will consolidate its Costa Mesa, Pomona and Tustin, Calif.-based operations into the Tustin Commons, after signing a 10-year lease agreement for the entire 212,979-square-foot suburban office complex in Tustin.
The value of the transaction was $37 million.
Tustin Commons is located west of Interstate 5 near Jamboree Road and is comprised of three two-story office buildings ranging in size from 51,000 to 93,000 square feet. It is owned by BRCP Stonewood Tustin LLC, a joint venture of Palo Alto-based Broadreach Capital Partners and Newport Beach-based Stonewood Properties.
Upon acquiring the vacant suburban office complex in July 2004, the partnership invested approximately $20 million to modernize and expand the asset into a class A office and R&D campus, according to a press statement.
The new facility allows Rockwell Collins to consolidate its business units that produce cabin electronics products for commercial aviation customers (Tustin); mechanical filters for HF radio communication applications (Costa Mesa); and in-flight entertainment systems for commercial aviation (Pomona).
According to Rockwell Collins, employees in Tustin and Costa Mesa will move into the new facility in March 2006 with the Pomona move set for June.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
