California-based company is global leader in providing high performance fiber access solutions
PINELLAS PARK, Fla. (Aug. 19, 2016) – Zhone Technologies, Inc., a leading manufacturer of network equipment for telecommunications companies, has leased an 81,000-square-foot industrial property in Pinellas Park. The property will serve as a research and development center, and will provide space for manufacturing, engineering and office use.
Colliers International Tampa Bay represented both the tenant and landlord in the transaction. Melanie Jackson, CCIM, Director of Office Services, and Alan Feldshue, Managing Director of Office Services, represented Zhone Technologies. Bruce Vaughan, CCIM, Managing of Director of Industrial Services, represented the landlord, 2005-3 Bryan Dairy Industrial, LLC.
Since 1981, Zhone Technologies has occupied an industrial property in nearby Largo. The move to Pinellas Park provided the company with a newer, modern facility that provides an open layout ideal for circuit card manufacturing, product build and world-wide shipping. Zhone has equipped the facility with a Gigabit Passive Optical Network (GPON) using its own FiberLAN access solution hardware. The fiber-based network delivers up to one Gigabit of bandwidth to each desk and work station in the facility, while significantly reducing the size of the IT equipment room and the costs associated power and cooling.
The City of Pinellas Park provided relocation incentives to Zhone Technologies to assist with the costs related to the move.
“With many companies like ours moving manufacturing operations overseas to keep costs low, we are grateful to be able to remain competitive right here in Pinellas County, where many of our employees call home.” said Ed Thompson, previously Vice President of Manufacturing and now Plant Relocation Consultant for Zhone Technologies. “This new space will also allow our business to operate more efficiently from both a production and connectivity standpoint.”
Headquartered in Oakland, California, Zhone Technologies serves 750 of the world’s most innovative network operators and many private and public enterprises by providing high performance, cost-effective fiber access solutions. All of the 130 Zhone Technologies employees who worked in the Largo facility will move to the new facility in Pinellas Park.
“This property provided Zhone with the size, functionality and location it needed,” said Colliers’ Feldshue. “The relocation to Pinellas Park also allows for better overall economic conditions with the city’s incentives and more useful and efficient space.”
The property is located at 7340 Bryan Dairy Road in Pinellas Park, a city in the Tampa Bay area of Florida.
About Colliers International Group Inc.
Colliers International Group Inc. is a global leader in commercial real estate services with more than 16,000 professionals operating from 554 offices in 66 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm. For the latest news from Colliers International, visit Colliers.com, or follow us on Twitter: @Colliers and LinkedIn.
To see the latest news on Colliers International in the Tampa Bay area, follow us on Twitter: @ColliersTampa and LinkedIn.
About Zhone Technologies
Zhone Technologies, Inc. (NASDAQ: ZHNE) is a global leader in the fiber access market, serving more than 750 of the world’s most innovative network operators. The IP Zhone is the only solution that enables service providers to build the network of the future today, supporting end-to-end Voice, Data, Entertainment Social Media, Business, Mobile Backhaul and Mobility service. Zhone is committed to building the fastest and highest quality All IP Multi-Service solution for its customers. Zhone is headquartered in California and its products are manufactured in the USA in a facility that is emission, wastewater and CFC free.
Zhone, the Zhone logo, and all Zhone product names are trademarks of Zhone Technologies, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or product names are all subject to change without notice.
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” variations of such words, and similar expressions are intended to identify forward-looking statements. In addition, forward-looking statements include, among others, statements that refer to financial estimates; projections of revenue, margins, expenses or other financial items. Readers are cautioned that actual results could differ materially from those expressed in or contemplated by the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, commercial acceptance of the Company’s products; intense competition in the communications equipment market; the Company’s ability to execute on its strategy and operating plans; and economic conditions specific to the communications, networking, internet and related industries. In addition, please refer to the risk factors contained in the Company’s SEC filings available at www.sec.gov, including without limitation, the Company’s annual report on Form 10-K for the year ended December 31, 2015 and the Company’s quarterly reports on Form 10-Q for the quarters ended March 31, 2016 and June 30, 2016. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason.
For further information, please contact:
Tyler Killette, Account Coordinator
Office: (727) 895-5030 ext. 107
Cell: (813) 270-7854
Portavoce PR for Zhone Technologies