Builder to Raze Retail Space for Housing

RANCHO PALOS VERDES-Crest Road Homes pays private group $8.2 million for 5.3-acre retail project in this Peninsula community. About 53,000 sf will be demolished to make way for 34 houses.

By David W. Myers | October 02, 2001 at 01:01 AM

The 5.3-acre parcel is on the northeast corner of Crest Road and Hawthorne Boulevard. It was acquired by privately held Crest Road Homes.

The company plans to build 34 single-family houses on the site. The retail property was sold by a group of private investors with the unusual name of Tp-Rhe-One Tpx.

Clint Morris and Steve Lawson of Colliers Seeley International represented the seller in the transaction. Crest Road Homes was represented by Mike Bodlovich and Mike Harry, also of Colliers Seeley.

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