LOS ANGELES-Ingersoll-Dresser’s former site in Vernon has been purchased for $15.6 million by a limited liability corporation that plans to build a new industrial complex on the property.

Demolition has already begun at the 10.5-acre site, which has been acquired by Xebec LLC. The company plans to build three state-of-the-art industrial facilities on the property, which is located along Bickett Street in the cities of Vernon and Huntington Park. The freestanding buildings will encompass a total of 240,000 sf and will be available as speculative or build-to-suit facilities. Completion is scheduled for the first quarter of 2002.

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