After more than 50 years of business in Westwood Village, Flax Art Supplies could be on the verge of closing up shop and transforming its property into apartments.
According to Westwood sources, Harvey and Judy Flax are trying to drum up community support for a mixed-use project that would include apartments, offices and retail space at the 10852 Lindbrook Drive location.
Sandy Brown, president of the Holmby-Westwood Property Owners Association, said the family is shopping the idea to the community because it could involve a development density that conflicts with the Westwood Village Specific Plan.
The specific plan allows for 19 two-bedroom apartments on the site. According to some in the village, the Flaxes are proposing 29 one-bedroom apartments. Flax declined to comment on the planned density.
Community residents are concerned about any exceptions to the specific plan, Brown said, because other developers are waiting in the wings to build projects that would exceed development limits.
“The question is ‘How much mixed use does he want?'” Brown said. “We’re saying ‘Hold the line. Whatever you’re entitled to, be our guest.'”
Judy Flax said there’s no need for alarm the family is merely exploring options for disposition of the property. “We really are not sure what we’re doing,” she said. “We’re looking into it, but nothing’s signed, sealed and delivered.”
The project would not be the first go at development for the Flax family. They built the mini-mall at the southwest corner of Olympic and Westwood, which features a Starbucks coffee shop, a Baskin Robbins ice cream store and a Poquito Mas Mexican fast food place.
A second Flax location is on South La Cienega Boulevard in Inglewood, near Otis Parson School of Design. It will remain open.
Auto Advances
Toyota Motor Sales USA Inc. soon will break ground on a reported $87 million construction project at the company’s Torrance headquarters.
The five-building, 625,000-square-foot development will draw from employees now operating in leased offices elsewhere in Torrance, according to Tracy Underwood, Toyota’s media relations manager.
Steve Kendrick, a principal in charge of the project at Irvine architectural firm LPA Inc., said the new buildings would house Toyota’s customer service and financial services operations. He said the five buildings, or pods, will be identical in size and will be connected by common lobbies.
The new buildings will sit on 30 acres, which exhausts expansion opportunities at the 70-acre campus. Underwood said the new facility will accommodate 2,500 employees. There will be room for increased staff and meeting spaces, as well, she said.
Kendrick said the new construction would be designed with an eye toward obtaining a gold or higher rating from the U.S. Green Building Council, based on a building’s achievements in categories that include water efficiency and indoor environmental quality.
Satellite Office
Digital satellite television service DirecTV signed a seven-year, $56 million lease that will expand its headquarters at Kilroy Airport Center in El Segundo.
The lease renewal covers 182,473 square feet in two buildings, giving DirecTV space on 10 floors in the 2250 E. Imperial Highway building and an additional half floor in the adjacent 2240 E. Imperial Highway building. DirecTV also gets signage rights on the 2250 building, which is visible from Los Angeles International Airport and the Century (105) Freeway
Nancy Hall of Hughes Electronics Corp., DirecTV’s parent company, represented the company with Grafton Tanquary of CB Richard Ellis Inc. Kathy M. Delgado, Kilroy Realty Corp.’s senior vice president for leasing, represented the landlord.
Short Takes
Parkmeed Properties LLC of Marin bought the Marina Tech Centre at 5300 McConnell Ave. in Los Angeles between Playa Vista and Marina del Rey for $16.2 million ($235.50 per foot). The 68,788-square-foot building is fully leased to medical services firm Impath Inc., a clearinghouse of sorts for cancer research and patient information. Michael Ross, managing director, and Steve Solomon and Craig Meyer, both senior vice presidents at Colliers Seeley International Inc., represented the buyer and the seller, Legacy Partners of Irvine, in the transaction
The Rajani Family Real Estate Partnership bought an industrial building at 1800 E. 50th St. in Los Angeles, just outside Vernon. The partnership paid $4.4 million ($37 per foot) for the 118,947-square-foot building. The Rajani family will use the building as headquarters for an import/export business called California King. Douglas Golden, managing director of the Premier Services Group of Charles Dunn Co. Inc. represented the buyer in the transaction. Sandra Crawford and Carol Taubman, principals at Westgate Industrial Properties, represented the seller, Long Beach Avenue Properties
Tung’s Investment Group Inc. of San Gabriel bought a strip mall at 441 E. Carson Blvd. in Carson. The group paid $2.9 million ($115.34 per foot) for the property that is home to a division of the Los Angeles Unified School District and temporary staffing company Labor Ready, among others. Mark Takeichi, director of sales and leasing groups for Charles Dunn Co. Inc. represented Tung’s. Dino Champagne of Centers Business Management represented the seller, Mark Dessy
An unidentified private local investor spent $5.5 million to buy a Beverly Hills building once owned by Burt Lancaster. The 16,370-square-foot building, 202-208 N. Canon Drive, was also once home to the William Morris Agency, Paramount Studios and Zanuck Productions. According to Bruce Hoffman, senior vice president at Equis Corp., who represented the seller, “The Godfather” and “Driving Miss Daisy” were penned at the building. The sellers were Bernard and Barbara Fried-Gilbert, who owned the property for 40 years, Hoffman said. Catherine O’Brien of Beitler Commercial Realty Services represented the buyer.
Staff reporter Christopher Keough can be reached at (323) 549-5225 ext. 235 or by e-mail at [email protected].
