"They do plan to do a facility for themselves on one of thepieces. We are still in the state right now of trying to figure outwhat they would do for spec product," Pete Klees, a senior vicepresident at Grubb & Ellis/BRE Commercial, tells GlobeSt.comabout the market inroad by Newport Beach, CA-based DSL Service Co.,the real estate arm of Downey Savings and Loan Association.
First Industrial Realty Trust of Chicago spent 2.5 yearsmarketing the three lots at the southeast corner of 59th Avenue andBell Road. Escrow with DSL lasted 40 days.
DSL's plan is to hold a two-acre tract for a Downey-relatedoffice project. A 1.6-acre lot and a four-acre parcel most likelywill be built out with spec flex office/industrial product,according to Klees. Ground could break in the late fall.
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