Bausch & Lomb Inc. will consolidate its Claremont and Irvine operations into 58,000 square feet of office space in San Dimas.
The Rochester, N.Y.-based company signed a five-year lease in the Via Verde Corporate Plaza, according to John Minervini, senior director for Cushman & Wakefield of California in Los Angeles. Minervini said he could not confirm published reports putting the value of the deal at $7 million.
Minervini handles all of Bausch & Lomb’s real estate transactions worldwide. Cushman & Wakefield represented both parties in the deal.
Via Verde Corporate Plaza consists of three two-story buildings totaling 155,904 square feet. Wohl Property Group LLC of San Juan Capistrano and Prudential Real Estate Investors of Parsippany, N.J. completed the plaza last year.
About 200 employees,roughly 150 from Claremont and 50 from Irvine,will work at the new facility, which is slated to open Jan. 1. The site will house administration, sales, management, research and training for Bausch & Lomb’s surgical division, Minervini said.
Both the Claremont and Irvine facilities had become too large for Bausch & Lomb, which has laid off more than 4,000 employees worldwide since 1995. The company has said it will let another 800 employees go this year, though it hasn’t specified where the cuts will occur.
“From a logistical standpoint, this is about the best location we could find,” Minervini said, adding that he considered about five sites along the 57 Freeway from Brea to San Dimas before deciding.
The Business Press (Ontario)
