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Champion Acquires Parking Lot With $50M Plans

HOLLYWOOD, CA-The firm will operate the 1.14-acre commercial lot while planning for a $50-million mixed-use project.

By Carrie Rossenfeld | Updated on March 21, 2012

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HOLLYWOOD, CA-Mixed-use real estate developer and investor Champion Real Estate Co. has purchased a 1.14-acre commercial parking lot at 1717 Cherokee and 1718 Las Palmas here. The company plans to continue operating the commercial parking lot while developing plans for turning it into a mixed-use project. While the exact purchase price was not revealed, industry sources say the property sold for approximately $10 million.

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