Maztech Industries Opts for Irvine Location After Extensive Search
Maztech Industries, a leading manufacturer of military and commercial electro-optical systems, has signed a 17,500-square-foot industrial lease at 1641 Reynolds Ave. in Irvine.
JLL’s Xavier Nolasco and Steve Wagner represented Maztech Industries. The landlord, The Donald Spencer DeVries Trust, was represented by John B. Collins of Lee & Associates.
“After an extensive search, Maztech Industries chose this building because of its modern features, recent renovation and location,” said Nolasco, a VP at JLL. “We were able to negotiate a lease term that was beneficial to Maztech while providing minimal disruption.”
According to JLL’s first-quarter 2023 Orange County Industrial Insights report, leasing activity increased 40% quarter-over-quarter. Additionally, despite increasing for the first time in two years, vacancy remained historically low at 1.4%.
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