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Land Sale Sets Stage for Development

SANTA FE SPRINGS, CA-Proficiency Capital acquires the 22 acres from Wald Realty Advisors and BreitBurn Land. The buyer plans to build industrial space on former oil and gas fields that Wald and BreitBurn remediated and entitled for 400,000 sf of new construction.

By Bob Howard | Updated on December 02, 2002

SANTA FE SPRINGS, CA-In a project that will convert former oil and gas fields to industrial space, Proficiency Capital acquired 22 acres, which has been entitled for 400,000 sf of new industrial construction, from Wald Realty Advisors and BreitBurn Land Co. LLC.

Dave Wald, founder and president of Wald Realty Advisors, says the new project will be called Heritage Crossing Industrial Park Phase I and will include seven buildings to be developed by Proficiency. The property is at the northeast corner of Telegraph Road and Santa Fe Springs Boulevard, in an area of significant oil and gas production operations.

Wald says his firm worked with BreitBurn Land Co. over the past 24 months to remediate surface hydrocarbon contamination of the development site. Once the clean-up phase was complete, the companies obtained entitlements for the property to allow for large-scale industrial development. This is the second such project that Wald and BreitBurn have completed in the past three years.

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