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LOS ANGELES-Irvine-based Crown Realty & Development has paid nearly $30 million for a mixed-use facility in El Monte. The 258,000-sf building consists of industrial and office space.

The County of Los Angeles occupies a substantial portion of the facility, with 163,000 sf of office space and 13,500 sf of warehouse space. The two-story building will serve the county’s Social Services, Health Services and Children’s Services departments. The remaining warehouse space is currently available for lease at the facility, which stands at 9320 Telstar Ave.

Crown acquired the building from Avnet, an international distributor of semiconductors, interconnect, passive and electromechanical components and computer products. Avnet was represented by Clyde Stauff and Tom Taylor of Colliers Seeley International. Crown was represented in-house. City National Bank provided financing for the purchase, marking the first finance agreement between Crown and City National.

The acquisition is part of Crown’s plans to expand its portfolio in the Los Angeles Basin area, according to Robert Flaxman, president and CEO of the real estate holding and property development firm. “We are on track to acquire $100 million in new acquisitions in 2001, and the purchase of this facility puts us at $60 million in acquisitions before the end of the second quarter 2001.”

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