The first transaction involved a 15-acre entitled property planned for development of 147 residential units on the west side of Avalon Blvd. in Carson. Centex Homes acquired the property from Olson Co. for $13 million. The project will include a mixture of single family houses and higher-density "cluster" units.
The second transaction involved a vacant half-acre parcel at the corner of Main and Marine in Santa Monica's Ocean Park neighborhood, near the community of Venice Beach. Palisades Development Group acquired it for $3.7 million. The parcel, which sits adjacent a small performing arts theater, will likely be developed with a mixed-use building containing ground-retail and 24 condominiums on the upper levels.
The parties in the transactions were represented by Roland Chavez, Scott Richardson, and Craig Atkins of O'Donnell/Atkins.
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