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Unions sell.


The local chapters of two large unions have sold property in the county, demonstrating that in some competitive real estate markets, properties with small buildings on large pieces of land become particularly attractive to buyers.

In a $2.75 million transaction, brothers Rudolph and Humberto Avila, owners of Los Altos Los Altos (lôs ăl`tōs, lŏs), residential city (1990 pop. 26,303), Santa Clara co., W Calif.; inc. 1952. There is diversified light manufacturing.  and Wild West Boots, purchased a 1.7 acre site at 14910 Garfield Ave. in Paramount from United Auto Workers The United Auto Workers (UAW), headquartered in Detroit, Michigan, officially the United Automobile, Aerospace & Agricultural Implement Workers of America International Union  Local 887.

The brothers plan to demolish the current union meeting hall and build a 40,000-square-foot warehouse and distribution center for their Paramount-based boot manufacturing company, said Grubb & Ellis Co. senior vice president Maury Gentile, who represented the union chapter. The sale price works out to about $37 per square-foot for the land, a price that Gentile said is consistent with similar properties sold in the peripheral area.

"We told the owner what the property was worth and they never imagined it would be worth that," said Gentile, of Grubb & Ellis' Torrance office. "This is part of the trend of land value superseding superseding

taking over a case of a patient under treatment by another veterinarian. In general terms this is poor professional etiquette unless the other veterinarian has been consulted and agrees to the change.
 the value of the buildings."

Sean O'Leary Sean O'Leary may refer to:
  • Sean O'Leary (born 1953), an English singer-songwriter, musician and writer.
  • Sean O'Leary (born 1941), former Irish senator
 and Mark Sokolowski also represented the union on the deal. Brian Denton, also of the Grubb & Ellis Torrance office, represented the buyer.

In the other union land deal, Los Angeles-based developer Witmer Development LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 purchased a 44,000-square-foot development site in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or  from Service Employees International Union Local 1877. The transaction for the unentitled site at 1247 West 7th St. was valued at $8.9 million.

Grubb & Ellis represented both sides of the transaction, with Gentile, Denton, Phillip Sample, Chris Caras, and Michael Shustak working on the deal. Witmer paid $200 per square-foot for the land and it plans to build a multi-unit condo project at the site, though there is no timetable for development. The existing 21,000-square-foot union building on the site will be demolished.

"The unions happen to own a lot of real estate surrounding downtown L.A.," Gentile said. "Two years ago these buildings were much more expensive than the land and now the trend has reversed."

Staff Reporter Daniel Miller People called Daniel Miller include:
  • Daniel Miller (footballer) footballer for London Stonewall Lions
  • Daniel Miller (anthropologist) (born 1954), anthropologist at University College London
 can be reached at (323) 549-5225, ext. 263, or dmiller@labusinessjournal.com.
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Article Details
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Title Annotation:REAL ESTATE
Author:Miller, Daniel
Publication:Los Angeles Business Journal
Date:Sep 11, 2006
Words:360
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