To be known as Town & Country Business Center, the development will be at Town & Country Drive and Tara Lane. The site is entitled for 35,000 sf of multi-tenant industrial improvements and 60,000 sf in eight free-standing industrial buildings. SPD plans to begin constructionduring the third quarter of 2003. At completion, Town & Country Business Center will consist of 11 single-user buildings that will be for sale and three multi-tenant buildings that will be offered for lease.

The site is one of the last available undeveloped industrial-zoned sites in Norco, Harty says. He notes that SPD already has other development underway in Norco, including construction that is underway on Phase II of Norco Network Business Centre, a 159,650-sf industrial facility just west of the intersection of Hamner Ave. and Fifth St. Phase I of the complex consistws of five buildings, all of which sold before completion. Phase II features nine buildings, three of which total 26,500 sf and have already sold for a total of $2.3 million.

Passco Real Estate Enterprises Inc. specializes in providing real estate investment and 1031 tax exchange opportunities in California, including neighborhood and community retail centers, business and industrial parks, land development and single-family home construction. The company's portfolio consists of more than two million sf of retail and office properties. Passco provides asset management, property management, and development activities through its affiliates, Passco Property Management Inc. and Stowe-Passco Development LLC.