Headquarters hopping.Teledyne Teledyne Technologies Inc. NYSE: TDY is an industrial conglomerate primarily based in the United States but with global operations. It was founded in 1960 by Henry Singleton and George Kozmetsky. Technologies Inc. is moving its headquarters to El Segundo El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and in a deal valued at around $30 million. The company is leaving its West L.A. offices for a 125,000- square-foot office building at 501 Continental Blvd., which was acquired earlier this year by Denver-based Alliance Commercial Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Teledyne, an electronics maker largely for the defense industry, is departing de·part v. de·part·ed, de·part·ing, de·parts v.intr. 1. To go away; leave. 2. To die. 3. from 12333 W. Olympic Blvd., where the company has been headquartered for nearly 50 years. Moving to the South Bay allows Teledyne to be closer to defense industry companies, many of which are its clients. Raytheon Co. previously occupied the two-story building where Teledyne is moving. Alliance Commercial Partners paid $28.5 million in April for the El Segundo Research Center that consisted of 501 Continental Blvd., which was empty, and a fully-leased 80,000-square-foot building at 1940 Mariposa Ave AVE Avenue AVE Average AVE Alta Velocidad Espanola (train between Madrid and Seville) AVE Alta Velocidad Española (Spanish: High Speed Train) AVE Audio Video Entertainment AVE Advertising Value Equivalent . Alliance, a real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. that seeks out underutilized buildings to lease up, sold the occupied building to Legacy Partners Inc. for $15.4 million and renovated 501 Continental Blvd. Teledyne was represented by Mark Sullivan, executive vice president and regional manager of Studley, and the landlord was represented by Trammel Crow Co.'s Steve Soloman and Craig Myer. Staff reporter Andy Firmer can be reached by phone at (323) 549-5225, ext. 263, or by email at afixmer@labusinessjournal.com. |
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