Ricon Corp., which designs and manufactures wheelchair lifts, is moving its headquarters from Panorama City to San Fernando.
The company, which makes lifts for vans, buses, recreational vehicles and passenger rail cars, inked a 10-year lease for 65,347 square feet at the San Fernando Business Center, 1135 Aviation Place.
The industrial deal valued at nearly $5.5 million was announced Monday by CBRE Group Inc., which represented Ricon and the landlord, Liberty Property Trust of San Fernando.
“We looked at properties throughout the San Fernando, Santa Clarita, and Simi valleys but none provided the functionality, office improvements, business park setting and freeway accessibility for Ricon’s employees as Liberty Trust’s property did,” said David Harding, senior vice president at the Universal City office of CBRE.
Ricon is relocating from 7900 Nelson Road in Panorama City. Ricon was founded in 1971 and is a unit of Wabtec Corp. of Wilmerding, Pa.
First Vice President Matt Dierckman, Senior Vice President Greg Geraci and Vice President Billy Walk, shared the listing with Harding.