Cushman & Wakefield/City of Los Angeles
In a deal brokered by Cushman & Wakefield, the City of Los Angeles has acquired a plot of approximately five acres for development into an electric bus charging facility for the Los Angeles Department of Transportation.
Cushman & Wakefield arranged the sale of the vacant 4.95 acre parcel of land in Harbor City, Los Angeles. Located at 23903 Normandie Ave in LA’s South Bay submarket, the site is currently undeveloped and was acquired by the City of Los Angeles for US $12 million. The city plans to install a new clean energy electric bus charging facility on the site for the Los Angeles Department of Transportation (LADOT). The seller was Brea Canon Oil Company.
The sale of this property marks a win-win scenario for all parties as well as for the greater Los Angeles community and its transportation services network and ridership.
LADOT leads transportation planning, project delivery, and operations in the City of Los Angeles. LADOT is made up of over 1,300 civil servants, including 600 traffic officers. LADOT manages 52 different transportation services for the region — from parking management to safety improvements to permits for private mobility operators.
Cushman & Wakefield Executive Director Jeffrey Morgan, who represented the seller in the transaction, tells FM Magazine: “The sale of this property marks a win-win scenario for all parties as well as for the greater Los Angeles community and its transportation services network and ridership. The new facility will also assist in the state’s effort for a cleaner and more sustainable environment.”
The property is currently zoned LAMR1 and LAMR2, and has been completed graded and compacted by the seller. The property is also fully fenced and has access to all utilities.
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