Industrial Park Phase Finished

Completion of the first phase of a $60-million industrial/office park will be celebrated Tuesday at a luncheon in Valencia.

Torrance-based Katell Properties Inc. is developing the project in a joint venture with Cal Fed Income Properties, an affiliate of California Federal Savings & Loan Assn. Phase 1 is the Valencia Gateway Plaza building, which is about 80,000 square feet in size.

Barasch Architects & Associates Inc. designed the project, which will have a landscaped plaza and pedestrian mall linking the first building to a second, to be built in Phase 2.