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COMMERCIAL REAL ESTATE | BRIEFS

Voit Acquires Industrial Sites for $39 Million

August 08, 2000|Bob Howard

Newport Beach-based Voit Development Co. acquired a $39-million industrial portfolio of five multi-tenant and three single-tenant properties in Los Angeles, Orange and Riverside counties from Fujita Corp., according to a Voit announcement. The purchase is Voit's third acquisition from Fujita in the last 15 months. The two previous acquisitions included a $38-million portfolio in March 1999 and a $125-million portfolio in December 1999. The $200 million in Fujita purchases represent the bulk of the $210-million Voit industrial portfolio, which totals approximately 3.5 million square feet. The acquisition reflects "our continuing confidence in Southern California," President Robert D. Voit said in the announcement. Voit and Fujita represented themselves in the transaction.

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