Calabasas technology company Ixia will expand its headquarters after signing a new lease worth about $26 million.
Ixia, which provides wireless network tests, agreed to expand its offices to 110,000 square feet from 83,000 square feet in a 10-year deal at Corporate Center Calabasas, said David Binswanger, executive vice president of landlord Lincoln Property Co.
The lease renewal and expansion were welcome because the economic downturn hit the Conejo Valley office market particularly hard, Binswanger said, and vacancy there is more than 20% in the wake of layoffs by local employers Amgen Inc. and Countrywide Financial Corp., the failed mortgage lender taken over by Bank of America.
“Obviously the valley has been in really bad shape since it took the one-two Amgen-Countrywide punch,” he said.
Ixia, which uses 26601 Agoura Road as its headquarters address, will occupy four buildings in Corporate Center Calabasas. Expansion will begin shortly, said real estate broker Ted Simpson of Cushman & Wakefield, who represents the tech company.