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Sales Begin for Historic LaSalle Lofts

HUNTINGTON BEACH, CA—TEAM Cos. sees the Downtown San Pedro project as a plus for its proximity to the water and its historic value.

By Don Jergler | Updated on June 23, 2008

HUNTINGTON BEACH, Calif. — TEAM Cos. is ready to sell units in its LaSalle Lofts project at 255 W. 7th St. in Downtown San Pedro, two blocks west of the San Pedro Harbor. The mixed-used development, which preserves the historic facades of the 1920s era buildings, consists of 26 residential loft condominiums, four live-work units and two retail-offices.

Units will be priced from approximately $400,000 to the low $600,000s. TEAM managing partner Keith Bohr believes the units are competitive with the market rate and will sell for around the average $445,000 asking price without the need for dropping prices to attract would-be buyers.

Bohr says the proximity to the water, the historic look and feel of the project, and the FHA financing they plan to offer buyers will prove good attractants despite the market doldrums, which have hit Southern California’s condo market hard. “Obviously, the temperature is favorable, and everybody likes to be close to the water,” Bohr notes. “The location’s great. The city’s a classic, funky longshoremen town. We’re hoping some young professionals who want to break into the market would like to be in that environment.”

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