X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

A Colliers Seeley team of Scott Heaton and Paul Sablock represented XB Partners LP, an affiliate of Xebec LLC, in the purchase of the property. The project, which is being exclusively marketed by the Colliers Seeley team, has already garnered interest from prospective build-to-suit tenants, according to Heaton. “Commercial real estate financing in the low 7% range makes ownership very compelling,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and 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.