Santa Monica Daily Press, August 29, 2007

Page 1

INSIDE SCOOP

OPINION

THE REAL DEAL

TRUST IN THIS AWARD PAGE 3 A REQUIEM FOR THE AMERICAN EMPIRE PAGE 4 PRICE IT CORRECTLY PAGE 8

WEDNESDAY, AUGUST 29, 2007

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Volume 6 Issue 246

Santa Monica Daily Press TIPS FOR FRESHMEN SEE PAGE 12

Since 2001: A news odyssey

THE STILL OUT TO LUNCH ISSUE

LAW ENFORCEMENT

TENSIONS RUN HIGH IN PICO SHOOTING, SHOOTING, STANDOFF STANDOFF CAP CAP WILD WILD DAY DAY FOR FOR COPS COPS STORY STORY BY BY MICHAEL MICHAEL J.J. TITTINGER TITTINGER PAGE PAGE 14 14

Photo courtesy David Brown

ROUGH DAY AT THE OFFICE: Santa Monica Police Department officers arm themselves during a three-hour long standoff in the Pico Neighborhood of the city.

Purchase raises more development issues BY KEVIN HERRERA Daily Press Staff Writer

MID-CITY An international real estate firm responsible for the Lantana Media Campus in Santa Monica — home to IMAX and Revolution Studios — has purchased the former Paper Mate pen manufacturing plant on Olympic Boulevard, with plans to turn

the shuttered industrial complex into creative office space for the entertainment industry. Houston-based Hines reportedly paid more than $75 million for the seven-acre property and hopes to build two- to fourstory office buildings totaling roughly 300,000 square feet. The seller was a family trust that had held the land since the 1950s,

Gary Limjap

according to published reports. The complex — located at the northeast corner of Olympic Boulevard and 26th Street — is currently empty, a security guard with property manager Grubb & Ellis said. Colin Shepherd, a Hines senior vice president, told the Daily Press on Monday that the company has been interested in the property “for quite some time,” and is looking forward

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to developing a quality project that will enhance the neighborhood, which is already home to the Water Gardens, MTV Networks and Bergamot Station. With the Exposition Light Rail line planned to pass by the complex, Shepherd said Hines wants to create a project that will serve as a gateway into the city. SEE SALE PAGE 15

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