Irvine’s Kofax PLC, a maker of business software, said on Monday is set to move its headquarters to the Irvine Spectrum and increase its square footage by a third.
The company is set to expand its operations into two new buildings with more than 90,000 square feet at the Discovery Business Center, which is owned and managed by Irvine Company.
Kofax inked a seven-year lease, with an option to extend it.
Financial terms weren’t disclosed. Kofax said the lease is for less than what it had been paying.
“This advantageous move allows us to expand our operations at a per square foot cost of less than what we currently pay at our existing facility,” said Chief Executive Reynolds Bish. “This was made possible as a result of the weak commercial real estate market.”
The deal marks one of the bigger leases in recent months, as real estate companies compete to lure in tenants in a tough market.
The site, at 15211 Laguna Canyon Road, features a 64,000-square-foot, two-story building connected to another 27,000 square feet on the ground floor of a second adjacent building.
The company, which got its start in 1985, makes information capture software used by businesses to get rid of paper and speed up work productivity.
Kofax’s software collects paper documents, forms, invoices, e-mail and photos and organizes them into a common, searchable database of electronic files.
Customers include Wells Fargo & Co., FedEx Corp. and government agencies.
Chief Executive Bish joined Kofax, which has about 300 workers here, a year ago. He replaced Rob Klatell, who retired.
The Business Journal estimates that the company sees about $200 million in yearly sales.
