Maztech Industries, a major manufacturer of electro-optical systems for both military and commercial use, has signed a lease for a 17,500-square-foot industrial space at 1641 Reynolds Avenue in Irvine, California. The industrial property is located in the thriving market of Irvine and is owned by The Donald Spencer DeVries Trust. The lease transaction was facilitated by John B. Collins of Lee & Associates, who represented the landlord, and Xavier Nolasco and Steve Wagner of JLL, who represented Maztech Industries. The lease signifies the ongoing demand for industrial spaces in Orange County.

Summary of transaction details

• Property Type: Industrial
• Transaction Date: 04/21/2023
• Property Address: 1641 Reynolds Avenue, Irvine, California
• Market: Irvine
• Landlord: The Donald Spencer DeVries Trust
• Tenant: Maztech Industries
• Landlord's Representative: John B. Collins - Lee & Associates
• Tenant's Representatives: Xavier Nolasco & Steve Wagner - JLL
• Asking Rent: $18 per square foot
• Lease Size: 17,500 square feet

Maztech Industries' decision to lease the industrial space highlights the continued interest in Orange County's industrial real estate market. With its strong expertise in manufacturing electro-optical systems, Maztech Industries is expected to contribute to the local economy and further solidify Irvine's position as a hub for industrial activities. The lease agreement was successfully negotiated with the assistance of John B. Collins from Lee & Associates and Xavier Nolasco and Steve Wagner from JLL. Their expertise in the market and understanding of their respective clients' needs played a crucial role in finalizing the lease.