Freeway-adjacent lot will become a car dealership and more
By Joe Piasecki
[Editor’s note: The headline has been modified because the parcel was not part of the original Hughes Aircraft Company footprint, so it is not technically in Playa Vista but in Playa Vista-adjacent Del Rey.]
Following an $83-million purchase by So Cal auto sales tycoon Hooman Nissani, the long-vacant commercial lot at Jefferson Boulevard and Centinela Avenue will become a car dealership as it awaits transition into a mixed-use development.
The nine-acre parcel will be developed for Nissani by Lincoln Property Co., which completed the Whole Foods-anchored Runway at Playa Vista retail, entertainment and residential complex last year.
Lincoln Property Co. Executive Vice President David Binswanger said the property’s interim use as an auto dealership will give developers time to figure out the best long-term uses for the property.
“We’re not under traditional time pressures, and from a real estate perspective that’s a real luxury,” Binswanger said.
Nonetheless, preliminary proposals could be forthcoming in a matter of months, he said.
“Nissani recognized early on that this site has much more potential than only running a car dealership out of it,” Binswanger said. “Now that the deal is closed we’re going to be out there publicly talking to stakeholders, the councilman’s office and others in the neighborhood to see what the community would like to see, what’s economically viable and try to bring that together.”