Anaheim-based Bisco Industries, a distributor of electronic components, has purchased an Anaheim building that will more than double its space.
The company bought a 40,000-square-foot building at 1500 N. Lakeview in Anaheim for $3.7 million. It sold its former facility, a 17,151-square-foot building at 704 W. Southern Ave. in Orange, for $1.5 million.
Bisco will house its corporate headquarters, warehouse and distribution operations at the new facility.
“We outgrew the space,” said Greg Holly, marketing coordinator of Bisco Industries. “Even in the downturn, we are expanding our sales offices and teams.”
The company said it plans by the end of the year to add 85 employees to the 90 now based in OC, bringing its companywide employee count to 295.
Bisco’s broad customer base, ranging across the telecommunications, aerospace, medical and instrumentation industries, has kept the company out of the trouble that other electronic companies have experienced, according to Holly. He also said the company is expecting high growth in the next year and “wants to be ready when the economy rebounds.”
Bisco, which distributes circuit board hardware and other electronic components, was established in Illinois in 1973. It has had offices in Orange County since 1981.
The company distributes its products to Santa Ana-based Powerwave Technologies Inc. and Motorola Inc. Last year the company reported $50 million in revenue.
Bisco counts Force Electronics, with an office in Cypress, and New York’s Hardware Specialty among its competitors.
Last month the company, which has 26 facilities in the U.S. and one in Canada, opened new offices in Kansas and New Jersey.
Bisco also is planning to expand five other facilities this year in the Southeast, Canada and the Midwest.
Steve Bryant of Grubb & Ellis’ Anaheim office represented Bisco in the purchase of the facility in Anaheim. Mike Hefner of Voit represented the seller, Laguna Hills-based Lakeview & Orangethorpe Business Center.
Bisco also sold its former facility in Orange to Orange-based investment company Generation Growth LLC. Both Bisco and Generation Growth were represented by Bryant and Jeff Read, also of Grubb & Ellis’ Anaheim office. n
