Armstrong-Butcher Properties LLC of Costa Mesa has acquired the final 12 acres there. The buyer, along with joint venture partner Centra Realty Corp., plans to construct 29 industrial facilities on the parcel. The proposed buildings will range in size from 4,000 sf to 20,000 sf.

Armstrong-Butcher Properties LLC was represented by Mike Hartel and Kevin Turner of Colliers Seeley. John Griffin of Voit Commercial Brokerage acted on behalf of Turner Development.

The Armstrong-Butcher transaction marks the final sale by Turner Development at A.J. West Ranch. The total value of the project's 77 acres has been estimated at $31 million, with previous sales including a 19.8-acre parcel snapped up by Douglas Allred Co. and a 7.64-acre site acquired by Peptide Medical Systems. Currently, A.J. West Ranch's largest user is the 120,000-sf Wonderware corporate headquarters.

"Initially, we intended to retain a portion of the land for our own development portfolio," says Rusty Turner, president of Turner Development Corp. "However, the demand for the property was so strong that developers were offering us prices way above our pro forma." Therefore, company officials decided to sell off the entire project and use the proceeds for future acquisition and development opportunities.