Demolition has already begun at the 10.5-acre site, which hasbeen acquired by Xebec LLC. The company plans to build threestate-of-the-art industrial facilities on the property, which islocated along Bickett Street in the cities of Vernon and HuntingtonPark. The freestanding buildings will encompass a total of 240,000sf and will be available as speculative or build-to-suitfacilities. Completion is scheduled for the first quarter of2002.

A Colliers Seeley team of Scott Heaton and Paul Sablockrepresented XB Partners LP, an affiliate of Xebec LLC, in thepurchase of the property. The project, which is being exclusivelymarketed by the Colliers Seeley team, has already garnered interestfrom prospective build-to-suit tenants, according to Heaton."Commercial real estate financing in the low 7% range makesownership very compelling," he says.