Dale Poe Buys 10-Acre Entitled Site

AGOURA HILLS, CA-Dale Poe Real Estate Group Inc. has acquired a 10-acre parcel of land along Highway 101 in Agoura Hills that is entitled for a 103,070-square-foot, multi-tenant industrial project that has already been approved by the City of Agoura Hills, according to Colliers International brokers who negotiated the deal. The buyer, which owns the Agoura Business Center, bought the property from Komar Investments LLC for $4.25 million. EVP John DeGrinis of Colliers says that the site “is one of the last available industrial parcels in the Conejo Valley, and possibly the last opportunity to develop a project such as this in the immediate area.”

Notes DeGrinis, “There have not been any new industrial developments over the past 20 years in Agoura Hills.” DeGrinis was part of a Colliers team including senior associate Patrick DuRoss and associate Jeff Abraham who represented the seller. The buyer was represented by vice president Roger Beck and associate Gelena Skya of Colliers. Land sales are extremely rare in the current economic climate, and there have not been any in the Conejo Valley and surrounding region since September 2008, according to the American Industrial Real Estate Association database.

DAUM Commercial Real Estate Services represented KFG Investment Co. in the sale of two, 7,936-square-foot industrial buildings located in Lancaster, CA. The total consideration of the two sales were $1.2 million. The properties are located at 4542 and 4543 Runway Dr. within the Fox Field Business Park in Lancaster, CA and will serve as the base for Suntrough Energy. Suntrough Energy is looking to develop two five-megawatt fully packaged solar power plants in the area. These are the final two buildings in the first phase of the development. The second phase will consist of another 190,000 square feet of concrete tilt-up industrial buildings.