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Lowe and Shamrock Team on Project

HAWTHORNE, CA-Shamrock invests $20 million in Lowe's development of industrial buildings at The Exchange, a former Northrop Grumman site where Lowe is already building a retail project.

By Bob Howard | Updated on October 21, 2002

HAWTHORNE, CA-Shamrock Capital Advisors’ Genesis LA Real Estate Fund has agreed to invest $20 million in Lowe Enterprises’ development of industrial space at a former Northrop Grumman site called The Exchange.

Los Angeles-based Lowe recently acquired 50 acres from Northrop Grumman that includes the land to be used for industrial development as well as an existing 375,000-sf office building. The 50 acres is in addition to 40 acres Lowe previously acquired at the site, according to Craig Furniss, a senior vice president of Lowe.

Lowe and Shamrock will be partners in the development of four new Class A industrial buildings totaling 600,000 sf at The Exchange, which is along the Century (105) Freeway about four miles from Los Angeles International Airport.

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