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California Developer Eyes 600,000-SF Spec Project

PHOENIX-Silagi Development & Management has spent nearly $3.9 million for 28.9 acres in the West Valley, following through on an announced plan to ply its trade outside the California line.

By Jackie Day | Updated on August 16, 2004

Jackie Day is editorial director of Real Estate Media’s Newsletter Division .

PHOENIX-Silagi Development & Management of Thousand Oaks, CA purchased 28.9 acres in the West Valley for industrial development. The company paid nearly $3.9 million for the 7102 W. Roosevelt St. land, where it plans to develop a 600,000-sf industrial building complex, according to reports from Grubb & Ellis/BRE Commercial.

Sam Sorenson of Sorenson & Blake represented the buyer. Phoenix brokers Tony Lydon, Gary Anderson and Steve Mardian, all with Grubb & Ellis/BRE, negotiated for the seller, 7102 W. Roosevelt LLC. Details on the transaction were not available by publication time.

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