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Who are LAB Holdings, the (Ex-)New Owners of Centinela & Washington Property in Culver City?
On Monday the Culver City Council approved the sale of the property on the Northwest corner of Centinela & Washington to LAB Holding LLC. Since they now own a bit of Culver City, and they will be developing on the site, I thought we should take a moment to get to know the company a little better.
LAB Holdings (the acronym stands for "Little American Businesses") recent developed an "anti-mall" in Costa Mesa that is similar to the concept described for the Centinela & Washington site. Here are some pictures of "The Lab" in Costa Mesa.
Comment
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Comment by Scupine on February 4, 2012 at 7:31pm
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Thanks for letting us into the process Mr. Councilman. Much appreciated!
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Comment by Jeff Cooper on February 4, 2012 at 6:35pm
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only insight I have is that when it was time to get down to signing agreement , they were not as interested as we thought or as they had previously indicated..
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Thanks for the tip Jeff (and Kevin, by email). Jeff, do have any insight into what went down?
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Ah yes, I see on the Culver City Council Agenda: "On January 30, 2012 the City Council authorized entering into a Commitment Letter with Lab Holding LLC to sell the Property and develop the Market Hall. The City and Lab Holdings could not consummate the agreement, and staff proceeded with negotiations with the other qualified developer that had submitted a proposal, Red Barn/Regency Centers. Regency has agreed to the same terms and conditions outlined in the City’s Commitment Letter to Lab Holding LLC."
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FYI..the LAB is out, no longer involved in this project
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Comment by Jen Arrow on February 4, 2012 at 11:39am
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Cute. The Washington Blvd. redevelopment is so amazing! I wonder if anyone will ever discover that little commercial sector of Washington Place as well.
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This looks very nice.
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