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SYLMAR, CA-Voit Development Co. plans two industrial projects that will consist of 200,000 sf of new construction on a 10.5-acre site here and 72,000 sf at an existing multi-tenant building in Sun Valley that will be converted into condos for sale. The developer recently acquired both the 10.5-acre parcel and the 72,000-sf property.Voit plans to develop the 200,000 sf of Sylmar space in two phases at 15900 Olden St. The first phase will consist of 95,000 sf of for-sale industrial condominium units ranging in size from 2,500 sf to 36,000 sf. Phase II will consist of approximately 100,000 sf of small buildings for sale or larger built-to-suits. The company expects to break ground on the project in May 2006, with the first phase scheduled to be completed in the first quarter of 2007.Tim Regan, VP of acquisition and development for Voit Development Co., points out that the company acquired the development site in an off-market deal. “We were able to identify and acquire this prime in-fill property before it ever got to the market,” Regan explains.David Harding and Greg Geraci of the Glendale office of CB Richard Ellis represented Voit in the acquisition of the Olden Street site, with the seller, Tutor Saliba Construction Co., represented in-house. Regan will be the project manager, with Harding and Geraci as the listing agents.For the Sun Valley project, Voit acquired the 72,000-sf building and approximately 3.5 acres of land at 8000 and 8010 Wheatland Ave. The development will be called Wheatland Commerce Center.Voit plans to subdivide the property to offer 24 industrial condominiums for sale. The 3,000-sf units will be offered at $595,000 each, with the design configured so that units can be combined to accommodate up to 24,000 sf.Wheatland Commerce Center will be close to Voit’s Burbank Airport Commerce Center, a new 480,000-sf industrial/R&D business park. The first two phases of the Burbank project are both sold out and all of Phase III, which is scheduled to be completed in March, is in escrow.Regan says that the Wheatland project will be a response to the demand for “small industrial product that was not offered in the Burbank Airport Commerce Center.” The company received numerous requests for such buildings, he says.Tim Regan will be the project manager for the Wheatland development, with Ron Berndt and Kevin Tamura of GVA Daum’s Burbank office as the listing agents. Dan Vittone and Al Pekarcik of the Irvine office of Voit Commercial Brokerage represented Voit in the acquisition of the Wheatland property, with Berndt representing the seller, WIP LP.

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