Developer Buys 8-Acre Industrial Site

THOUSAND OAKS, CA—Conejo Merchant Ltd. has purchased an 7.8-acre industrial site from the City of Thousand Oaks with plans to build a 75,000-square-foot industrial facility for a mix of small industrial users. The property will offer only for-sale condominiums with no leasing options.  The price of the land sale was not disclosed.

“This development will really fill a need for that smaller industrial product, and it is the smaller type of product that really satisfies the needs of today’s industrial user,” Grant Fulkerson, principal at Lee & Associates L.A. North-Ventura office, tells GlobeSt.com. Fulkerson represented the both the buyer and the seller in the transaction along with Lee & Associates L.A. North-Ventura office president Mike Tingus. The property will offer several condominiums ranging in size from 1,800 to 8,000 square feet with seven freestanding buildings ranging in size from 4,000 to 8,000 square feet.