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Santa Monica targets sears lot.


The Santa Monica City Council Santa Monica City Council is the current governing body of Santa Monica, California. The council meets on the second and fourth Tuesday of each month. Councilmembers
  • Pam O'Connor (Mayor)
  • Herb Katz (Mayor Pro Tempore)
  • Richard Bloom
  • Ken Genser
 has approved submitting a letter of intent to buy a long-sought, 2.5-acre property from Sears Holdings Corp. for $35.5 million.

For nearly three years, the Years, The

the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109]

See : Time
 city has wanted to buy the 2-acre parcel at the southeast corner of Colorado Avenue and Fourth Street for use as a potential mixed-use or transit-related site.

Jeff Mathieu, director of the city's resource management department, told the Santa Monica Daily Press The Santa Monica Daily Press is a free microdaily newspaper founded in Santa Monica in 2001 by Dave Danforth, Carolyn Sackariason, and Ross Furukawa. Currently, the Santa Monica Daily Press is the only daily newspaper in circulation in Santa Monica, California.  that Sears has the right to lease back the property for up to five years.

The property has been used by Sears as an auto repair site since 1953 and is across the street from its department store, which opened in 1947, The city sees the site as a potential terminus for a proposed light rail line running along Exposition Boulevard from downtown L.A.

Plans for the $505 million first phase the rail project, which will take the line to Culver City Culver City, city (1990 pop. 38,793), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1917. It is a center of the U.S. motion-picture industry, whose roots in the city date to c.1915. Its chief manufactures are rubber products and computers. , are underway, but transportation planners are still seeking funds for a second phase that would continue to Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. .
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Title Annotation:Sears Holdings Corp.
Comment:Santa Monica targets sears lot.(Sears Holdings Corp.)
Author:Berry, Kate
Publication:Los Angeles Business Journal
Article Type:Brief article
Geographic Code:1USA
Date:Jun 19, 2006
Words:176
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