Anaheim-based Extron Electronics Inc. has paid $17 million for its former headquarters on East Ball Road, according to property records.
The company recently completed the purchase of 1001 E. Ball Road, a 110,600-square-foot office and manufacturing building it had been leasing a little more than a mile west of Disneyland.
CoStar Group Inc. records put the building’s purchase price at $17 million, or a little under $154 per square foot. That price would make the deal one of the larger owner-user sales seen in North Orange County in recent months.
The building, which is on about 11 acres of land, last traded hands in 2000, for $11.2 million, according to brokerage data.
Extron executives could not be reached for comment on the purchase.
A family trust sold the building to an affiliate of Extron operating under the RGB Systems Inc. name in the latest transaction, property records show.
The purchase is the latest notable real estate deal for privately held Extron, which makes a variety of electronic products for projector systems used in classrooms, boardrooms and auditoriums.
The Business Journal estimates that the company, which moved to Anaheim in 1995, has at least $150 million in yearly sales.
Extron moved into a newly built 198,000-square-foot headquarters office at 1025 E. Ball Road, which it also owns, a little more than a year ago.
Restaurant
The six-story building, one of the largest offices to be built in Orange County over the past five years, also is home to The Ranch Restaurant & Saloon, which covers 20,000-square-foot on the ground floor of the new building. The restaurant has a wine cellar and features live country music.
The upstairs offices hold the company’s engineering, product development, sales and marketing, inventory and other administrative functions.
The new headquarters building is next to the older, 110,600-square-foot property that just traded hands.
Extron is said to have remained a tenant in the older building, which previously served as the company’s headquarters, following the move.
Extron occupies other properties in the area, including another 100,000-square-foot warehouse on East Ball Road that was part of the recently completed $144 million sale of a portfolio of industrial buildings from Los Angeles-based Kilroy Realty Co. to LBA Realty in Irvine.
Chief Executive Andrew Edwards told the Business Journal in 2010 that Extron had about 500,000 square feet of space that it either owns or leases in Orange County.
The company has been expanding its presence outside of OC and the U.S.
New sales and training offices recently opened in South Africa and China to go along with existing facilities in South Korea, India, England, Germany, France, the Netherlands, Singapore, United Arab Emirates and Japan, according to the company.
New offices are planned this year in Moscow, Mexico City and Toronto, among other locations, according to its website.
Extron’s East Coast operations in the U.S. are run out of a four-story, 146,000-square-foot building in Raleigh, N.C., that the company moved into last year.
New Products
The company also continues to expand its line of product offerings.
New products include a tabletop enclosure designed for using iPads in classrooms and boardrooms, among other situations. There’s also a new line of power outlets for charging mobile devices in conference rooms, libraries and other areas.
Extron customers are said to include ESPN Zone restaurants, AT&T, Macy’s, and Mater Dei High School in Santa Ana.
