The H.B. Drollinger Company — the largest commercial property owner and management firm in the Sepulveda Boulevard business area of Westchester — has announced that it has closed escrow on the sale of its holdings in what is called the “Superblock” — a ten-acre plus site on the west side of Sepulveda Boulevard, south of Manchester Avenue in the West-chester Business District, adjacent to Los Angeles International Airport.
The sale includes all property in the area bounded by Sepulveda Boulevard, Manchester Avenue, Sepulveda Westway and La Tijera Boulevard with the exception of the Sav-on and T.J. Maxx buildings, which Drollinger did not own.
“This is the first time in five decades that we have been sellers of a major portion of our real estate in Westchester,” said Howard Drollinger, president of the company founded in 1947.
“Our board of directors felt that it was important for us to diversify our real estate holdings, and we were pleased to find buyers who agree with our philosophy of improving older properties and working with the community,” he said.
An ownership group named KLA Westchester, LLC, was the buyer of the property. Terms of the deal were not disclosed.
Joe Fahey, principal of the ownership group, said there are no immediate plans for the site.
“For many years we have watched the transformation the area has undergone thanks to Howard Drollinger’s leadership,” Fahey said.
“We commend Howard for everything he and his company have done to turn the area around, and we look forward to continuing in that tradition,” he said.
“This transaction was peaches and cream,” said Drollinger. “We found buyers who understand the community and have a great deal of experience owning and operating centers like this across the nation.
“Working with Joe and his group was a pleasure, and we know that we can count on them to continue to make Westchester even better.
“Thank you also to Councilman Bill Rosendahl and his staff for their services to the buyers and the sellers during the escrow process,” Drollinger said.
Drollinger’s mother, Ella, built the first commercial building in the Westchester Business District in 1944, and since then Drollinger has followed in her footsteps developing and redeveloping the area.
In 1995, the H.B.D. Company completed development of a Mediterranean-style shopping center in the business district, encompassing two square blocks on the west side of Sepulveda Boulevard south of La Tijera Boulevard.
The center is named Westchester Village and is anchored by a 46,000-square-foot Ralphs, a 21,000-square-foot Longs Drug Store, and a series of proven, high-volume retailers.
In 2003, the company completed the remodeling of the “Superblock,” including Trader Joe’s, Home Town Buffet, Fantastic Sam’s and Panera Bread CafÈ.
H.B.D. has 15 employees who oversee more than 400 tenants, including in-house property management, sales, leasing, and accounting.
LAX STAKEHOLDERS MEETING — Los Angeles International Airport (LAX) master plan stakeholders are invited to attend a public forum from 6 to 8 p.m. Thursday, February 2nd, in the Morningside High School Auditorium, 10500 Yukon Ave., Inglewood.
Presentations will include current status and updates on the LAX Master Plan Settlement Agreement and Restudy, the South Airfield Improvement Project and updates on the Part 161 Study.
Parking is available at the corner of Yukon Avenue and 104th Street.
If assistance for the hearing-impaired is required, the stakeholder liaison’s office should be notified at least 72 hours before the event. The forum will be conducted in English, with Spanish translation available.
Information, the LAX master plan stakeholder liaison, (800) 919-3766.
VIETNAM MONUMENT COMPLETE — After many years of struggle, the final step has been taken to complete the Vietnam Monument in Westchester and keep it from being defaced in the future.
An anti-graffiti wax was recently applied to the monument, which was relocated from a spot at the corner of Lincoln Boulevard and Manchester Avenue to a new location between Councilman Bill Rosendahl’s office and the Westchester-Loyola Village Library.
The monument was regularly the victim of graffiti and other damage at its previous location, but has gone unscathed thus far at its new home.
The anti-graffiti wax allows the monument to be easily cleaned if it is defaced with paint or magic marker.