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City's Largest Vacant Industrial Parcel Sells

SANTA CRUZ, CA-An affiliate of the locally based timber company Redtree properties acquires 23 acres here surrounding a former Lipton Tea Plant from Conopo Inc. (dba Unilever Foods Americas) with plans for a mixed-use development.

By Brian K. Miller | Updated on September 11, 2005

SANTA CRUZ, CA-This coastal city’s largest remaining tract of vacant industrial zoned land has changed hands for $11 million. An affiliate of the locally based timber company Redtree properties acquired a 20-acre parcel and a three-acre parcel flanking a former Lipton Tea Plant here from Conopo Inc. (dba Unilever Foods Americas).

The buyer’s broker, Jim Wiseman of Sheldon Wiseman Commercial Real Estate, tells GlobeSt.com that the Redtree affiliate will create building-ready lots, some of which it will develop and some it will sell off. It is thought that the market mostly will be commercial condos for local businesses. While the necessary approvals are still 18 months off, Wiseman says the development will include light industrial, R&D and some retail space, he says.

“This will be developed strictly within the existing zoning, so I don’t anticipate a huge amount of opposition,” says Wiseman. “They’ll be no Home Depot, no residential stuff.”

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