Matrix plans to build a regional office and distributionfacility on the parcel. The distribution facility will be used forthe company's aboveground storage tank services unit. Matrixprovides maintenance, construction services and products to thepetroleum industry. The company's current site for tankmaintenance, repair and fabrication is located at 1441 S. AnaheimBlvd in Anaheim. It will move to the new location when the facilityis completed in first quarter 2002.

Matrix was represented by Randy Coe of Colliers Seeley. JeffChiate and Mark McAdams of Cushman & Wakefield's Irvine officerepresented the seller, a Newport Beach-based family trust.

"Land (available for industrial development) is so scarce thatthe majority of it is selling to industrial users," Chiate says.The dearth of buildable lots has pushed prices so high that itwouldn't make sense for most developers to purchase the availableland that is left, Chiate adds.