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LOMPOC, CA-A private real estate investment and development group has paid $4.8 million for a 94,000-sf industrial project in this fast-growing community about 100 miles north of Downtown LA.

The three-building project stands at 1641 W. Central Ave. It was 100% leased at the time of sale, according to a Grubb & Ellis broker involved in the transaction.

The buyer is San Luis Obispo-based Strasbaugh Development. The seller is Gowing Leasing Co., a privately held company based here in Lompoc.

John Peckham of Grubb & Ellis’ Santa Barbara office representedGowing in the transaction. Jeff Demorest of Daum represented thebuyer.

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