X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Developer Xebec has acquired a 10-acre land site east of Downtown Los Angeles, GlobeSt.com has learned exclusively. The site had fallen out of escrow several times because it has environmental site issues that made it a challenging property. Xebec, however, has handled environmental challenges and has become an expert at understanding and navigating these issues.

While the firm has experience with environmental issues, it also owns an adjacent three-acre property, which made the company comfortable with the deal from the start. “There are regional environmental issues that kept other buyers away because it was an unknown, but because Xebec had already transacted within that area, and that gave the seller a lot of confidence that they knew what they were doing,” Christopher Sheehan, EVP at Colliers International, tells GlobeSt.com. “There were also some site-specific issues that the seller had done a very good job of quantifying. As a result, Xebec was able to get a level of comfort with both the site-specific and the regional issues.” Sheehan represented Xebec in the deal along with EVP Scott Heaton.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. He work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.