In a multi-step, $21.96-million transaction, Genisco Technology Corp. will consolidate its headquarters and production facilities into a 120,000-square-foot leased building in Corporate Center, La Mirada.
The transaction involved three properties and three principals: the Muller Co., Irvine; Copley Real Estate Advisors, Boston, and Genisco, a diversified high-technology firm. Collins Fuller Corp., Newport Beach and Riverside commercial/industrial brokers, coordinated the series of transactions.
Genisco will move into the expanded building--it originally had 95,270 square feet--about July 15. The 10-year lease has a total consideration of $11.23 million.
As part of the transaction, Genisco sold a 100,325-square-foot building in Rancho Dominguez to Muller/Copley, which also assumed a six-year lease on a 53,100-square-foot building that Genisco occupies in Cypress.