Terminal Data Completes Sale of Simi Headquarters

Terminal Data completed the previously announced sale of its Simi Valley headquarters building to Gibraltar Savings for $21 million.

Terminal Data, a maker of electronic document-storage systems, last January agreed to sell the 280,000-square-foot facility to the Beverly Hills-based savings institution. Terminal Data, which employs 250 people at its headquarters, is negotiating to lease a 100,000-square-foot plant in nearby Moorpark, where it expects to move in mid-1988.

Terminal Data has been struggling financially, and officials said the smaller plant would help it cut costs. In its fiscal third quarter ended June 30, the company lost $856,000 on sales of $5.9 million.