$13-Million Complex for Thousand Oaks
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Santa Ana-based Burke Real Estate Group has purchased 11 acres of land in Thousand Oaks where it plans to build a $13-million, 22-building industrial complex--the first speculative project to be developed in Ventura County in a decade.
Burke purchased the property on Grande Vista Drive with equity partner Heller Financial from Silagi Development & Management. Construction has already begun, and the 145,000-square-foot complex is expected to be completed in late spring or early summer of 1998.
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Real estate investment trust Kilroy Realty Corp. has purchased a vacant 291,146-square-foot manufacturing facility at 5115 E. La Palma Ave. in Anaheim from Hexcel Corp. for $9.4 million. The property will undergo renovations and be ready for occupancy by January 1998, according to Rob Socci of Voit Commercial Brokerage, who, along with Mitch Zehner, represented Kilroy and the seller in the deal.
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