This division shall also be inapplicable to:
(a) The financing or leasing of any parcel of land, or any portion thereof, in conjunction with the construction of commercial or industrial buildings on a single parcel, unless the project is not subject to review under other local agency ordinances regulating design and improvement.
(b) The financing or leasing of existing separate commercial or industrial buildings on a single parcel.
(Amended by Stats. 1982, Ch. 87, Sec. 4. Effective March 1, 1982.)