by Jodi Summersjames-butts-obama

We know commercial real estate in Inglewood. We’ve been buying and selling it since the last millennium. It was a bit of a struggle since the City of Champions lost the Lakers to the Staples Center, but the City of Inglewood is known for reinventing itself.

Inglewood-1890The history of Inglewood dates back to the original settlers of Los Angeles in 1781, one of whom was the Spanish soldier Jose Manuel Orchado Machado, “a 23-year-old muleteer from Los Alamos in Sinaloa,” notes historian Gladys Waddingham. Legend has it that the new settler were instructed by the officials of the San Gabriel Mission “to graze their animals on the ocean side of Los Angeles in order not to infringe on Mission lands.”

The settlers, or pobladores, drove some of their cattle to the “lush pasture lands near Centinela Springs,” and the first construction there was done by one Ygnacio Avila, who received a permit in 1822 to build a “corral and hut for his herders.”Inglewood-1910

It is from these settlers, we get the name of well-known Centinela Avenue. It is the name for the hills that rise gradually around the local springs, which allowed ranchers to watch over their herds – the hills were known as centinelas or sentinels.

The area has been ranchland, spa, affluent area, ghetto and the warehouse hob for LAX. Now with the Rams and several new train lines coming to town, the City of Inglewood is expected to come into its own, like neighboring Mayor James T Butts JrCulver City.

Much of it is thanks to Mayor James Butts, who became mayor in a runoff election in early 2011. Mayor Butts took over with a wealth of experience and a powerful address book. He had been the Deputy Executive Director for Public Safety for Los Angeles County Commercial Airports, successfully commanded a battalion of the nation’s largest airport law enforcement and security organization. Butts oversaw security at Los Angeles International (LAX), Ontario International (ONT), Palmdale Regional (PMD) and Van Nuys (VNY). LAX, ONT and PMD; when combined, these airports serve more than 65 million passengers a year. Prior to that, he was head of the Santa Monica Police Department – so Mayor Butts made some pretty fabulous connections over the years.

Lauralee Asch Forum Eagles concertHe called some of his connections. The first coup was the Fabulous Forum. Built in 1967, it was once the site of Los Angeles Lakers and Kings games, as well as concerts by Led Zeppelin, Van Halen and Prince. That was in its glory days. The Forum spent more than a dismal decade as Faithful Central Bible Church, until 2012, when MSG Group – bought the Forum. Also a player in the deal – Live Nation concerts. They paid $23.5 million for the historic but rundown venue with a pledge to spend $50 million restoring it.

Once again a venue for stars as diverse as the Dalai Lama to vintage rockers the Eagles, the Forum has been bringing added visibility to Inglewood. Billboard now rates the Forum as the No. 1 concert venue in events booked in greater LA, the No. 1 in the state and No. 2 in the US.

Betting On Inglewood 2That was the beginning. In 2013, Stan Kroenke, owner of the St. Louis Rams football team, purchased land in Inglewood large enough for a new stadium. Rumors started to fly…and then beyond hope, the Rams were moving back to L.A.

The $1.5 billion stadium development under way the 298-acre Hollywood Park racetrack is currently called Arroyo Park. It is three times the size of Century City. The stadium is the anchor to the “sports and entertainment district” which is at the center of the redeveloped racetrack. Along with it comes a new open-air shopping center boosting a million square feet of retail and fine dining – that’s an are larger than the Grove. There will be 900,000 sf of office buildings, parks, a lake and up to 2,500 homes. TherBetting On Inglewood 3e will be two lakes, four public parks and a 6,000-seat performing arts theater. All is of it expected to open in September 2019.

And there are trains coming. The Crenshaw line will run to the stadium, and there is a line going in near Manchester Blvd. and Market Street that will go to LAX. That transit line brings in more possibility.

Mayor Butts envisions Market Street being like Old Town Pasadena with second-floor residential over first-floor retail space. A developer already has plans in the works for a 177-unit, mixed-use property to be built at the corner of Market Street and Florence Avenue.

The biggest problem will be how to “successfully manage our success,” so the developments coming in are synergistic, as opposed to competing with each other, Mayor Butts says. For now, he says he’s pleased Inglewood is “an extremely safe, progressive city” that’s well-run from a financial perspective. When people heard the name Inglewood, they didn’t think of that before, “but that’s what we are,” he proudly concludes.

james-butts-george-w-bush

**

https://www.bisnow.com/los-angeles/news/commercial-real-estate/how-a-win-for-inglewood-means-a-win-for-socal-67306

http://www.socalindustrialrealestateblog.com/former-santa-monica-police-chief-runs-for-mayor-of-inglewood/

http://www.santamonicapropertyblog.com/wp-content/uploads/2010/11/james-butts-obama.jpg

http://www.cityofinglewood.org/images/staff_photos/mayor2.JPG

http://www.dominiquediprima.com/wp-content/uploads/2012/06/138048626.jpg.CROP_.rectangle3-large.jpg

https://mediadecoder.blogs.nytimes.com/2012/06/26/madison-square-garden-buys-the-forum-in-los-angeles/

https://en.wikipedia.org/wiki/Inglewood,_California

Save

Save

Save

Leave a Reply

About Jodi Summers

Jodi Summers Sotheby’s International Realty 310.392.1211 jodis@jodisummers.com www.SoCalInvestmentRealEstate.com www.SantaMonicaLandmarks.com www.SoCalIndustrialRealEstateBlog.com www.SoCalOfficeRealEstateBlog.com www.SoCalGreenRealEstateBlog.com www.SantaMonicaPropertyBlog.com Jodi Summers Bio With $100,000,000 in listed inventory, Jodi Summers understands the coastal commercial real estate market. A top producer with Sotheby’s International Realty, Jodi knows finance, rules, regulations, procedures and methods. She is accurate, knowledgeable, timely and aware of how government shapes the cities of Southern California. Jodi is born in Brooklyn, raised in and around Manhattan – the family business was marketing, Madison Avenue style. Childhood math quiz questions calculated demographic and psychographic percentages or analyzed the allocation of adverting dollars. Word games were for devising slogans. An honors graduate from the Walter Cronkite School of Journalism at Arizona State University, Jodi moved to California to achieve her goal of living by the beach with a palm tree and a hibiscus bush in her yard. She thrived as an entrepreneur in the entertainment, media and marketing industries. One of her books, “Marking and Marketing Music,” is in second edition. “My marketing and communication skills have proven to be a true gift when it comes to promoting real estate,” observes Jodi. “And I am consistently able to get an exceptionally high price per square foot for my sellers.” Discipline (Jodi holds a Black Belt in Tae Kwon Do), organization, motivation, excellent communication skills and knowing & satisfying the needs of her clients have been her essentials for running a successful business. A passion for investment real estate explains her emphasis in asset-yielding properties. Her team joined Sotheby’s International Realty for the company’s powerful brand and stellar reputation. “We offer the broad market knowledge needed to assist clients in formulating a sound acquisition strategy,” Jodi amplifies. “Together, we evaluate various markets, property types and neighborhoods to devise a customized approach that meets each client's specific objectives.” Jodi is a member of the Action Apartment Association of Westside income property owners, the Santa Monica Conservancy historic preservation society, the Ocean Park Association, the Friends of Sunset Park community group, the Real Estate Investors Club of L.A., and the Culver City Rock & Mineral Club. Members of her team are fluent in Spanish and Italian. “Our reputation assures your satisfaction.”

Category

Bravo, Economy, Fascinating Information, Funny...Money, Government, Investment Opportunities, Market Snapshot, New Developments, Trends, Uncategorized