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Article: MJW Investments Announces Intent to Sell 23-Acre Sears Distribution Center in Boyle Heights; Potential Buyers Will Inherit Solid Blueprint for Developing 1920s-Era Site into Pedestrian-Oriented Shopping and Residential District.
- Article from:
- Business Wire
- Article date:
- May 22, 2006
CopyrightCOPYRIGHT 2006 Business Wire. 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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LOS ANGELES -- MJW Investments (MJW) today announced it is soliciting proposals from potential buyers for the 23-acre Sears, Roebuck & Co. Boyle Heights distribution center in East Los Angeles, purchased by the firm in 2004. The site includes a 1.8-million-square-foot distribution center that is mostly vacant except for a Sears retail store and auto center. A planned $450-million redevelopment project -- the largest in the city's history -- has been designed for the site, including condominiums, apartments and 660,000 square feet of stores, offices and restaurant space.
"We've created a blueprint that will facilitate a smooth transition for the new owners and ...