Commercial Scene : Group Buys Acreage in Oxnard for Business Park

Latigo Investment Group has purchased 31 acres of land in Oxnard for $3 million and plans to build a business park on the site.

The Calabasas-based syndication group plans to construct about 25 multi-tenant industrial buildings ranging from 7,500 to 20,000 square feet each on the parcel, near the intersection of Rice Road and U.S. 101. It will also sell vacant lots to other developers.

Siegel & Associates will serve as both developer and architect of the project, which is expected to get under way in early 1990. Grubb & Ellis represented both Latigo and the seller, the Maulhardt family of Oxnard.