ITT Industries signed a seven-year lease agreement with landlord Rexford Industrial to occupy a 74,346-square-foot flex office building in Monrovia, Calif.
The value of the transaction was $5.5 million.
The single-story facility, located at 1400 Shamrock Ave., will be used by ITT’s Systems Division, which recently was awarded a contract from Jet Propulsion Laboratory (JPL) in Pasadena to provide technical support for the Deep Space Network (DSN). DSN is an international network of antennas that supports interplanetary spacecraft missions and radio and radar astronomy observations for the exploration of the solar system and the universe. NASA/JPL’s Mars Exploration Rover Project, which recently landed the unmanned robotic vehicle “Spirit” that is sending back the dramatic color photos of the red planet, is among the projects supported by ITT Systems under the new contract.
The building was previously occupied by Boeing and then occupied by Integrated Micro Machines, who shut down in mid-2003.
Erik Larson, John Minervini and Robin Dodson of Cushman & Wakefield represented Rexford in the transaction, while Carole Walker and Dan Alle of the John Alle Co. represented ITT.
Cushman & Wakefield is a global provider of real estate services.
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