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Article: MTA swaps Venice lot for construction of new facility.(Real State)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 12, 2004
- Author:
CopyrightCOPYRIGHT 2004 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A 3.1-acre parcel in Venice that has been a lowly bus yard is about to get a facelift as part of a land-swap deal worked out between a local developer and the Metropolitan Transportation Authority.
As part of the deal, RAD Jefferson LLC will gain title to the 3.1-acre parcel bordered by Main Street, Thornton Place and Pacific and Sunset avenues, which has operated as an MTA bus yard for decades and is valued at $12.9 million, according to the MTA. In exchange, RAD Jefferson will build a new bus facility on a 4.7-acre site on Jefferson Boulevard near National Boulevard.
RAD Jefferson is led by real estate investor Robert D'Elia, principal of GTO Hampton ...
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