SoCal developer dumps office space

Proceeds will fund industrial expansion
Published on Mar 28, 2006

Watson Land Co. has sold four office buildings totaling 402,425 square feet in Southern California. The total value of the transactions was not disclosed. The properties sold by Watson included: a 118,975-square-foot, two-story office building occupied by L-3 Communications at 901 East Ball Road, Anaheim; a 71,450-square-foot, two-story office building occupied by The County of Los Angeles at 4060 Watson Plaza Drive, Lakewood; a 112,000-square-foot office building occupied by Northrop Grumman at 18701 Wilmington Ave., Carson; a 100,000-square-foot, two-story office building occupied by Northrop Grumman at 1815 University Dr., Carson. "Our company is executing a long-term growth strategy that targets the acquisition and development of industrial projects in key Southern California markets," said Bruce Choate, president and CEO, Watson Land Co. "The proceeds from the sale of these properties will be reallocated to our continued active acquisition program." Colliers International...

Comments