Eric Powers and BretNelson of NAI Capital Commercial, who represented both parties in the transaction, say the buyer paid $2.1 million for the property, which will be developed in two phases.
The NAI Capital brokers, who are the leasing agents for the new business park, say the first phase of the development will comprise 125,000 sf and will include four buildings that will have prominent Highway 99 visibility. Construction of Phase I is scheduled to begin in early 2003.
The park is designed to meet what the brokers describe as strong demand for buildings in a wide range of sizes for small- and medium-sized users. The building unit sizes will range from 2,500 to 38,000 sf.
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