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The communications and aviation electronicscontractor (NYSE: COL) inkedr a five-year lease for 60,038 square feet at 795 West Nasa in Melbourne. The building is a warehouse previously usedby . Renovationzs are underway to convert the space into office and laboratorty space and should be done during the first quarterof 2008. Rockwell Collins expectxs to create about 250 new jobs with an averagee salaryof $60,000 as part of the expansion. The estimatee Rockwell Collins will generateabout $15 million in directg economic impact and another $11.2 million in indirect benefits to localk businesses.
Rockwell Collins will get aboutt $1 million in tax breaksw from local andstate governments, including a five-year, $73,95r5 ad valorem tax abatemenr from the city of Melbourne; a $167,040 ad valorem tax abatement from Brevared County; and an $800,000 Qualifief Targeted Industry Tax Refund from Florida. Rick senior director of officebrokerage services, represented Rockwelkl Collins in the lease transaction. Rockwell Collins develops communication and aviation electronics for both commercial andgovernment applications. The Cedar Rapids, Iowa-base company employs 20,000 people. About 1,200 people work at Rockwell Collins' Hibiscus Boulevard campus in Melbourne.
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