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Hermosa Beach church gets land-swap offer

By on December 30, 2019

first_imgHermosa Beach City Manager Steve Burrell said Continental executives have broached the subject of their development options for the commercially zoned land with the city. The corporation – which owns more than 4 million square feet of property around California, including the massive nearby shopping center Plaza El Segundo – envisions a commercial development there, said Burrell, who added that executives did not name specific tenants. As soon as the Albertsons closed, Hope Chapel began receiving about five inquiries a week about the properties, Turner said. Arguably the largest landowner in Hermosa Beach, Hope Chapel has been at the site, a former bowling alley, since the 1970s. But the church, which holds four weekend services that draw a combined 1,700 worshippers, is bursting at the seams, Turner said. Hope Chapel commissioned architects to design a new church on-site, and also looked at property throughout the South Bay, including the Daily Breeze building on Torrance Boulevard in Torrance, he said. “I think what we’d really like to do is stay, but I don’t think we can physically stay,” Turner said. A retail development on the corner wouldn’t be bad for Hermosa Beach, either. Because churches are exempt from paying property taxes, the city has long missed out on revenue from the property, which Sandy Pfister, a Realtor at South Bay Brokers, estimated could sell for $15 million to $23 million. “From the tax bases, the city would receive an amazing amount of revenue we’d never get with a church,” Councilman Sam Edgerton said. About two weeks ago, another prominent piece of Hermosa Beach real estate hit the market. The heirs of Quentin “Boots” Thelen, the longtime owner of the Mermaid bar and restaurant, put up for sale nearly 14,000 square feet of property facing The Strand and Pier Plaza, with an asking price of $33.5 million. [email protected] local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Hoping to obtain a sprawling 5-acre property now owned by a Hermosa Beach megachurch, a developer has offered the church a spot in its well-appointed El Segundo business park. Under a proposal from El Segundo-based Continental Development Corp., Hope Chapel would swap its nearly 235,000 square feet of property near the corner of Pacific Coast Highway and Artesia Boulevard for a spot in the corporation’s Continental Park in El Segundo, said Dale Turner, the church’s administrator and associate pastor. But the church isn’t yet sold, he said. Indeed looking for new digs, the growing Hope Chapel is negotiating with Continental, though no decision will be made until likely early next year, Turner said. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.“It’s a great corner,” he said. “It has beautiful ocean views, but we’d like to move, and Continental is a very viable option. But I’m not going to say what we’re going to do.” Robert Tarnofsky, Continental’s director of real estate, wouldn’t comment on the proposal. “Our policy relating to our entire portfolio of assets is until any kind of transaction is completed on any front, whether it be a lease or acquisition, we won’t comment on potential or pending transactions that may or may not happen,” he said. Hope Chapel owns five parcels near the corner: the church’s administrative offices at 2306 Pacific Coast Highway; the main sanctuary immediately north; the site of a former Albertsons grocery store that closed in 2006; and two other lots near Artesia Boulevard and Prospect Avenue. A 9,500-square-foot parcel on the immediate corner of Pacific Coast Highway and Artesia, which houses a pizza restaurant, a doughnut shop and several other businesses, is owned by Saul and Frida Bluman of Beverly Hills, property records show. last_img read more

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