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Overton Moore Sells Industrial Condos

MONTEBELLO,CA-The Gardena-based developer sells 10 of the 17 industrial condominiums at its Montebello Business Center before or soon after completion of construction.

By Bob Howard | Updated on September 12, 2006

(To read more on the industrial market, click here.)

MONTEBELLO,CA-Overton Moore Properties of Gardena has either sold or entered escrow on 10 of the 17 industrial condominiums at its Montebello Business Center before or soon after completion of construction, according to Timur Tecimer, president of the development and investment firm. The project is part of a nine-acre site along the Santa Ana Freeway at Telegraph Road that OMP acquired from the Elston Corp. in April 2005.

Tecimer says that the strategy for the development was to respond to market demand by developing a type of product that didn’t exist in the submarket. The 17 units at the 111,000-sf Montebello Business Center range from 3,657 sf to 23,422 sf and are designed to fit the needs of a variety of industrial, service center, retail and other types of users.

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