Guthrie Development Co. recently acquired Guthrie Rancho Way Business Park, a two-building, 52,825-square-foot industrial property in Los Angeles, Calif., for $7.5 million.

The property is located at 19500-19520 Rancho Way.

The firm plans to place a condominium map on the project and redevelop the property into 22 units ranging in size from 1,824 square feet to 30,045 square feet, which will be available for sale or lease. The project is anticipated for completion in August 2008.

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