Lowe Lowdown.Lowe Enterprises Commercial Group has closed its purchase of 20 acres from Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Corp. near the Hawthorne Airport Hawthorne Airport may refer to:
The deal is the first part of what is planned to be a two-phase purchase in which Lowe will acquire 105 acres altogether, south of the Century (105) Freeway and east of Crenshaw cren·shaw also cran·shaw n. A variety of winter melon (Cucumis melo var. inodorus) having a greenish-yellow rind and sweet, usually salmon-pink flesh. [Origin unknown.] Boulevard. Its acquisition of the remaining acreage is currently in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. . After closing on the first 20 acres, Lowe sold a portion of the property -- a 320,000-square-foot building -- to Sabey Corp. of Seattle, said Craig Furniss, senior vice president at Lowe. Sabey plans to develop the building for telecom uses. The entire development has four components. About a quarter will consist of retail, including a Lowe's Home Improvement store, office supply outlet and restaurants. Then there's a 375,000-square-foot existing office building that could be used for office or telecom and two existing manufacturing buildings (Sabey's and another that may also go telecom). The last piece will consist of new warehouse-distribution centers. David Drummond David Henry Drummond (11 February 1890–13 June 1965) was an Australian politician and farmer. Drummond was born in Lewisham, Sydney and was educated at public schools and at The Scots College, but was forced by financial problems to seek work. of Colliers Seeley and Jeff Kernochan of Fischer & Co. represented Lowe in the Sabey deal, while Jeff Morgan of CB represented the buyer. Kernochan also represented Lowe in the acquisition from Northrop. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion