San Diego CA— CBRE Group, Inc. announced Teledyne Instruments, Inc. signed a ten-year lease valued at more than $22,000,000 for two buildings totaling 124,828 square feet, in the submarket of Scripps Ranch. Teledyne Instruments, Inc. expanded into 9970 Carroll Canyon Road and renewed their lease at 9855 Carroll Canyon Road located across the street. CBRE market experts Bill Dolan and Chris Pascale represented the landlord, Gateway Colorado Properties, Inc., and Craig Estey of Cushman and Wakefield represented the tenant.
“The expansion building will combine the growing operations of both Teledyne API which is relocating from Sorrento Mesa, as well as Teledyne Impulse which is currently located in Scripps Ranch,” said Mr. Dolan. “Teledyne was drawn to the corporate image and functional attributes of the properties for its office, engineering, and manufacturing operations, as well as the beautiful outdoor lifestyle in Scripps Ranch and proximity to Interstate 15. The expansion transaction totaling 124,828 square feet was the largest industrial lease completed in central San Diego during 2015, and the largest new R&D deal completed since 2013. This demonstrates the continued economic growth we are experiencing in San Diego.”