Electra Bicycle Co., a division of Trek Bicycle Corp., has signed a lease for space in Encinitas where it is relocating its global headquarters, according to brokerage company Lee & Associates.
Electra is moving into a 10,398-square-foot space that is being remodeled at 1010 Coast Highway , as it relocates from Vista. Greg Pieratt of Lee & Associates represented Electra, negotiating a nine-year lease for the space in downtown Encinitas.
“After spending an extended period of time in Vista, where Electra expanded product offerings, distribution and overall team members, 2014 called for a few changes,” said Electra President Kevin Cox, in a statement issued by Lee & Associates. “One of the most important changes was the decision to move headquarters to Encinitas.”
“The company looks forward to re-integrating itself into the beach culture and lifestyle already embedded in the brand,” Cox said.
Lee & Associates’ Pieratt and Alex Weiss also negotiated a sublease of the 38,818-square-foot Vista facility that Electra is vacating, at 3275 Corporate View. That building was leased by cleaning technology provider Hruby Orbital Systems, represented by Russ Jabara of Colliers International.
The combined value of the two lease transactions was approximately $4.5 million, according to Lee & Associates.