Wireless technology company Ingenu has signed a new lease for 27,855 square feet of office space at the Horizon Tech Center in Scripps Ranch, property owner KBS Real Estate Investment Trust II announced. Financial and other terms were not disclosed.
Jay Alexander of brokerage company JLL represented Newport Beach-based KBS REIT II in the transaction, and Ron Miller of Colliers International represented Ingenu.
Formerly known as On-Ramp Wireless Inc., Ingenu is currently based in Rancho Bernardo. The company is working on networking technologies that connect machines within the Internet of Things, also known as IoT.
Technologies in that arena allow for wireless communication among items such as remote meters, sensors, vehicles and home appliances.
Built in 2008, Horizon Tech Center consists of three, two-story buildings, totaling more than 150,000 rentable square feet. The 11.35-acre campus is located at 10301, 10325 and 10343 Meanley Drive, near Scripps Ranch Road and Interstate 15.
KBS REIT II is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992.