TENANTS GROUP BUYS AREA OFFICE BUILDING.Byline: Daily News VALENCIA - A Valencia office building anchored by Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank was sold this week for $20.8 million to a coalition of tenants. A Hawaii-based joint venture that built the Westridge Executive Plaza Built in 2003 announced the sale Wednesday. ``This sale represents the culmination of A&B's first U.S. mainland joint venture development,'' said Michael G. Wright, a senior vice president in charge of real estate investments for A&B Properties, Inc., based in Honolulu. ``By selling this Class A property at this time, we are capitalizing on the very strong demand for investment property in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, .'' The buyer was Core Realty Holdings, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a newly formed tenant investment company. The three-story, 64,300-square-foot building sits on 4.1 acres at The Old Road and Valencia Boulevard. It was developed by A&B Westridge, LLC, a partnership of subsidiary A&B Properties, Inc. and an affiliate of Intertex Construction Company, a Valencia-based general contractor A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. and developer of commercial properties. Major tenants include Wells Fargo Bank, Pardee Homes Not to be confused with Pardee Home. Pardee Homes is a residential real-estate developer originally founded in 1921 by George Pardee Sr. He was joined by his three sons in the Los Angeles housing boom after World War II. and Realty Executives. The building was the first developed by A&B in the continental U.S. ``Our strategy of growing real estate investments on the mainland was initiated in Valencia because of its dynamic growth,'' Wright said. ``We are fortunate to have formed a relationship with an experienced development partner, with whom we have secured superior development sites.'' With the sale of this asset, A&B remains affiliated with Intertex in four other real estate venture investments in the Santa Clarita Valley The Santa Clarita Valley is the valley of the Santa Clara River in Southern California. It stretches through Los Angeles County and Ventura County. Its main population center is the city of Santa Clarita. The valley was part of the 48,612-acre (19,672. - Center Pointe pointe n. In ballet, dancing that is performed on the tips of the toes. [From French pointe (des pieds), point (of the feet), tiptoe; see point.] Marketplace, a 100,000-square-foot retail center; Crossroads Plaza, a 62,000-square-foot commercial center; 5.4 acres of commercial land in Rye Canyon Business Park; and Bridgeport Marketplace, a 120,600-square-foot retail center at Newhall Ranch Road and McBean Parkway. A&B owns 91,000 acres in Hawaii, making it Hawaii's fourth-largest private landowner. |
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