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OXNARD, CA-Channel Islands Building & Development Partnersof Oxnard has acquired an industrial building formerly occupied bythe Oxnard Press Courier and plans to convert the property to 54condominium lofts in a $20-million redevelopment, according toSperry Van Ness. According to Mark Haworth of Sperry Van Ness inVentura, the buyer paid nearly $3.2 million for the 53,275-sfformer newspaper facility, which is situated on nearly 2.2 acres at300 W. Ninth St. in Downtown Oxnard.

Haworth, who represented seller Argonaut Investments of CorteMadera, says that the deal will turn an obsolete industrialbuilding into an adaptive reuse project in a redevelopment districtwhich is undergoing a revitalization. Built in 1958 and renovatedin 1992, the property served as the print facility and editorialoffices for the Oxnard Press Courier Newspaper, which ceasedoperations in 1994.