Joint venture buys SoCal space, plans office project
Spending could top $30 million
By Inman News, Thursday, March 9, 2006.Grubb & Ellis Co. represented a joint venture between Xebec Development Co. and IDS Real Estate in the purchase of an 80,000-square-foot industrial building on 152,000 square feet of land in Burbank, Calif.
The value of the transaction was $9 million.
Xebec and IDS plan to redevelop the industrial facility, located at 210 South Victory Blvd., which was last used by a defense-related firm, into a creative office project with a total project investment of more than $30 million.
Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.
***
What's your opinion? Send your Letter to the Editor to opinion@inman.com.
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
You must login or register to post a comment.