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Former Industrial Site Sells for $1.7 Mil

LOS ANGELES-A Costa Mesa-based developer has purchased a 5.88-acre parcel in Azusa and plans to revive the former industrial site by constructing several small manufacturing and distribution facilities on the property.

By Erin Cassin | Updated on April 30, 2001

LOS ANGELES-As manufacturing firms continue to vie over limited industrial space in the county, a Costa Mesa-based developer has purchased a 5.8-acre parcel in Azusa and plans to build several small industrial buildings on the site.

The buyer, privately held NNC Properties, paid $1.7 million for the parcel at 1004 W. 10th St. It is one of several surplus properties that the seller, paint and coating manufacturer Valspar Corp., had acquired when the company bought industrial coating manufacturer Lilly Industries Inc. The property housed “an old, antiquated manufacturing site that was no longer needed,” says Keith Wilson, a Colliers Seeley International broker who worked on the deal.

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