There’s nothing unusual about a technology company expanding along the 101 Corridor. And in recent years, it hasn’t raised any eyebrows when a technology company, having gone through one expansion, went off and leased yet another building to accommodate still more growth. But when Spirent Communications, which moved to Calabasas from Chatsworth two years ago for more space, leased a second building and then rented out some more space in a third facility even before it had moved into the second one, well, that was unusual. Spirent, a network technology company owned by British tech giant Spirent PLC, just inked a deal for 13,500 square feet on Agoura Road in Calabasas, the very same street where, two years ago, the company moved into a 107,000-square-foot facility it has fully occupied, and the very same street where it has an 82,000-square-foot build-to-suit now under construction. But construction on the new facility has been delayed, and Spirent’s race for space couldn’t wait. Spirent needs engineers, the kind of sophisticated talent that’s in short supply in Southern California. So when the company was presented with an opportunity to hire a small battalion of qualified workers, it had to move quickly. If they couldn’t put their new engineers to work immediately, Spirent officials worried they might lose them. “These folks are hard to find, so when you have an opportunity to hire a bunch of them, you do it and figure out where you’re going to put them later,” said Dwight Olson, vice president at the company. “So it caused us to need some interim space.” Since it revamped its product line to its current offerings in 1994, Spirent has grown to 450 employees. Last year alone, Spirent’s U.S. business grew by about 77 percent and the company added nearly 200 workers. Recruiting has been challenging, Olson said, so much so that the company has added facilities in San Jose and North Carolina in order to tap into a broader talent base. “About half of our workforce is related to engineering or technical support,” Olson said. “The specialized skills required are hard to find locally and hard to bring in to Southern California, so you have to go where they’re at.” Many of the employees Spirent seeks are reluctant to come to Southern California, Olson said, put off by the differences in lifestyle and the high cost of living. But last month, when Nortel Networks announced it was closing its Simi Valley facility and laying off about 180 workers, part of a corporate-wide, 12 percent staff reduction, Spirent snatched up about 40 new hires almost immediately. The company continues to recruit additional workers from Nortel. Initially, the new hires will make their home in the newly leased facility at 27200 Agoura Road, but Spirent may move them into its new building when it is completed in August if there’s room. Company officials had not anticipated the growth they achieved last year, and they may have underestimated their space needs when they signed the new build-to-suit deal. “We do have an option to keep the property longer term and we’ll make that decision in August,” Olson said. John DeGrinis and Michael Fowler, brokers with Colliers Seeley, represented both Spirent and the landlord in the most recent deal. Retail Deals Several new retail businesses are moving into the San Fernando Valley. Bed Bath and Beyond, Inc. inked a 15-year deal for a 30,000-square-foot store at the Courtyard of Encino on Ventura Boulevard. The retailer is building out a two-level store in the shopping center. Scandia restaurant is also opening in the same shopping center. The restaurant signed a 10-year deal for 6,675 square feet. The lessor for both transactions is Doerkin Properties. Bob Walsh, a broker with Cypress Retail, represented Bed Bath & Beyond. Chris Wilson at Wilson Commercial Real Estate represented Doerkin in the Bed Bath and Beyond deal. Wilson’s Salim H. Abboud was the landlord broker on the Scandia transaction. Scandia represented itself. In Northridge, Las Vegas Golf & Tennis has leased a 6,550-square-foot store for a five-year term from The Uhlman Offices Inc. The retailer is moving into The Northridge Shopping Center at Devonshire and Reseda boulevards. Wilson represented Uhlman. Las Vegas Golf & Tennis represented itself. Agoura Sale A family trust has acquired a 15,000-square-foot building in Agoura Hills for its restaurant interior design business. The Lieberman Family Trust acquired the property at 28035 Dorothy Drive from Joe Cole for $1.8 million. The buyer plans to relocate its business, Design Development, to the ground floor space of the new building. The second floor of the facility is fully leased. Design Development is moving from Tarzana. Sylvia MacAller, a broker at TOLD Partners, represented the buyer. The seller was represented by independent broker Dick Pearson. Coast-to-Coast Move Intrinsix Inc., an electronics design firm, leased 2,828 square feet of office space at 4550 E. Thousand Oaks Blvd. The company, headquartered in Westboro, Mass., will set up a sales and engineering office in the new facility. The five-year lease is valued at $432,410. Both tenant and lessor, 4550 E. Thousand Oaks Blvd. LLC, were represented by Cory Richmond, Cheryl Richmond and Marc Riches of NAI Capital Commercial. Staff Reporter Shelly Garcia can be reached at (818) 676-1750, ext. 14 or by e-mail at [email protected].
