750 N. Francisca Avenue (Credit: Google Maps) The prices of on-the-market luxury homes in Los Angeles have been steadily falling, but land-only listings ripe for development are having a moment. Now, in Redondo Beach, one owner is thinking big. Very big. A 2.64-acre plot of land is on the market there for about $40 million. […]
Joint venture pays $54M for storm-damaged Redondo Beach resi complex
IDEAL Capital Group President Austin Herzog, Aegon Asset Management US CEO Gary Black, and the Novella Redondo A joint venture has purchased a storm-damaged apartment complex in Redondo Beach, with plans to overhaul the 105-unit development. IDEAL Capital Group and Aegon Real Assets paid $53.5 million for the Novella Redondo development at 616 Esplanade, according […]
Patrick Soon-Shiong’s NantWorks buys Redondo Beach industrial park
From left:Timur Tecimer and Patrick Soon Shiong (Credit: Google Maps) The nation’s richest doctor has bought another property in the South Bay. An entity tied to NantWorks, a biotechnology company founded by billionaire Patrick Soon-Shiong, paid $27 million to acquire an industrial park in Redondo Beach, The Real Deal has learned. The property, located at […]
Former 7-Eleven CEO cuts price for Redondo Beach manse to $12M
Jim Keyes chopped the price of his home by 34 percent Jim Keyes, the former CEO of Blockbuster and 7-Eleven, has cut the asking price for his Redondo Beach mansion down to $11.9 million. That’s a $6-million discount, or 33 percent less than the $17.9 million he originally listed the 9,200-square-foot home for in 2017. […]
Latest mall redevelopment project, this one from Forest City, is a go
The Redondo Beach City Council and the South Bay Galleria Forest City’s South Bay Galleria Mall in Redondo Beach is the latest dying mall headed for redevelopment. The Redondo Beach City Council unanimously approved a large-scale redevelopment of the mall that will add new retail space and hundreds of residential units, according to Urbanize. Forest […]
New developer looking to resuscitate Redondo Beach waterfront redevelopment plans
A renderings from the previous waterfront redevelopment plan and the AES power plant in Redondo Beach (Credit: Curbed) Leo Pustilnikov, best known for his work in Downtown Los Angeles, is swapping skyscrapers for the development challenges of an oceanside community. The SLH Investments principal is in negotiations to purchase multiple city-controlled leases on Redondo Beach’s […]