2 ITT Units Sign for Space in New Office Park

Two ITT units have signed a five-year, $1.1-million lease agreement to become the first tenants in the new Irvine/Sammis Venture office park that recently broke ground in the Irvine Spectrum research and technology business center.

ITT Components North America and ITT Multicomponents, which currently have headquarters in Santa Ana, have agreed to lease about 15,000 square feet in the Irvine project when the first phase is completed later this year. A total of 30 employees will be relocated from the Santa Ana facilities to the Irvine center, located at the junction of the San Diego and Santa Ana freeways.

The two ITT units, part of the worldwide ITT Electronic Components Distribution operations, produce a variety of electronic parts for the medical industry. The company said it chose the Irvine Spectrum project for its new headquarters because of its proximity to UC Irvine and a proposed new hospital in Irvine.

Irvine Spectrum was designed specifically to attract bioscience and biotechnology-related companies.

Irvine Co. officials said the ITT lease was particularly encouraging because, despite the high office vacancy rate in Orange County, the deal was closed before ground for the building was broken.