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Industrial building
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A Montgomery County investment firm has purchased an Elizabethtown industrial building, it was announced Friday. Exeter Property Group has bought the 290,000-square-foot building for $13.1 million from executives of the Jay Group, courthouse records show.
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MONROVIA - About 60 firefighters battled a 3-alarm blaze that damaged an industrial building Wednesday night. The roof collapsed but no one was injured during the fire at Southwest Grinding Co., 1120 S. Shamrock Ave, according to city spokesman Dan Bell.
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NORTHVALE -- Demolition of an industrial building at the former TECT/Danzig site on Livingston Street began Monday and is expected to be finished by the end of the week, Mayor Paul Bazela said. Crews worked through inclement weather both Monday and Tuesday, tearing down portions of the building -- located on a 2.1-acre site that was deemed environmentally hazardous back in the late 1990s.
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AZUSA - While investigating a possible burglary, police officers discovered a large-scale marijuana-growing operation with about 1,200 plants in an industrial building Wednesday night. Azusa police Sgt. Dewayne Eldridge said officers received a report of a broken window at a business in the 1200 block of Mountain View Circle shortly before 8 p.m. When they arrived at the location, they found evidence of a burglary and entered the building.
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Compton. Megeli Investment LLC purchased a 29,674-square-foot industrial building in Compton for $2.8 million, according to real estate services and investment firm Grubb & Ellis Co. Brian Held and Gray Garrett of Grubb & Ellis' South Bay office represented the buyer, Megeli, who bought the 17523 S. Susana Road building from Bechler Corp.
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The 573,000-square-foot Rivergate Corporate Center III Building A has become the largest speculative industrial building in the state to earn Leadership in Energy and Environmental Design certification. And the LEED silver building, nearly one year old, now has its first tenant: Colgate-Palmolive, which will occupy 150,000 square feet.
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The Inland Empire continues to lead much of the nationin industrial building development, according to a reportreleased by real estate broker Grubb & Ellis. Of the 97.4 million square feet of industrial space underdevelopment in the United States in the third quarter, nearly20 percent of it was being developed in the Inland Empire.
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A Houston-based private equity firm has purchased a 76,600- square-foot industrial building near Will Rogers World Airport for $13 million, according to property records. The newly constructed building sits on 10 acres at 6602 Newcastle Rd. and is leased to Houston-based National Oilwell Varco LP. The multinational corporation manufactures mechanical parts for offshore and onshore oil rigs. National Oilwell Varco has a 15-year lease on the building.
