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VISTA, CA-San Diego-based Janez Development has acquired just over 16 acres of industrial land in the North County Industrial Park. The local development firm paid $10.5 million for the site.Janez originally took development rights to the site during a July 2004 open bidding auction held by the County of San Diego. The firm has now decided to exercise its option on the two parcels, which are located at the northeast corner of Sycamore Avenue and Business Park Drive.Janez is looking at the development of small industrial buildings, build-to-suits and lots for sale, according to John Kocmur, president of Janez Group. Currently, the land is set up for R&D, light industrial and distribution.Activity has been brisk at the site, with over three acres already in escrow. Greg Lewis and Tucker Hohenstein of Burnham Real Estate are marketing the parcels.The North County Industrial Park deal is the third so far this year for Janez. Earlier this year, Janez outlined plans for a $40 million mixed-use project in Oceanside's downtown redevelopment district. Upon completion, Oceanside Terraces will count 105,000 sf of condo units as well as retail and office space. It will also include two and half levels of underground parking. The six-story building will include 38-condo units, 10,000 sf of ground floor retail space and roughly 18,000 sf of second-floor office space. Janez originally took interest in the project in spring 2004, when Oceanside Terraces' original developer saw the project stall while working to clear various city requirements and hurdles. In May, Janez acquired a 105-unit apartment complex in Escondido, with plans to convert the $26 million project into the Sienna Hills condominium home community. "While we have always had significant expertise in office and industrial real estate, we have now expanded our capabilities in the residential arena as well," Says Kocmur.