Venture Design Services Inc., a contract electronics maker that’s part of Singapore’s Venture Corp., has leased about 60,000 square feet of space in Anaheim where it plans to combine several local operations.
The company, which assembles printed circuit boards, has leased 63,532 square feet at 1051 S. East St., where it plans to move about 200 workers from Santa Ana.
Some 50 workers from its Foothill Ranch and Lake Forest facilities are set to move in December and January.
Venture has about 70,000 square feet of space in Santa Ana, Lake Forest and Foothill Ranch.
“We’re consolidating to keep our costs low and have more efficient operations,” said Marthes Waran, Venture Design’s operations manager.
After the move, about 300 people are expected to work at the Anaheim facility. Venture plans to hire 50 people in coming months, according to Waran.
Assemblers and technicians are set to make up the bulk of the hires, he said.
Venture has the option in Anaheim to lease an extra 50,000 square feet of space, which the company could exercise early next year, according to Louis Tomaselli of Voit Commercial Brokerage LP.
Tomaselli represented landlord GRE Anaheim Tech Center LP in the lease. Venture signed a five-year lease in Anaheim valued at $2.5 million.
New York-based defense contractor L-3 Communications Holdings Inc., which has several operations in Anaheim, left the building for another one nearby.
“It was a plug and play opportunity for Venture Design,” Tomaselli said
Venture plans to do research and development, circuit board assembly and repair work in Anaheim.
In Lake Forest, Venture puts together circuit boards that later are sent to the Santa Ana facility for final assembly.
The Santa Ana site also assembles amplifiers and other communications products.
The Foothill Ranch facility deals with repairs and customer service.
The Anaheim building served as an electronics plant under L-3. Venture is putting some finishing touches on offices, according to Southwest Industrial Real Estate Inc. broker Dennis De Meis, who represented the company in the lease.
“They are retrofitting their offices,doing a lot of electrical work and converting some of the offices into open areas and lunch rooms,” De Meis said.
The building has more power supply than typical buildings, according to Tomaselli. The warehouse is air-conditioned and insulated.
Venture Corp., the company’s Singapore parent, counts yearly sales of about $2 billion. The company also makes networking gear, computers and storage devices for customers such as IBM Corp., Seagate Technology and Xerox Corp.
