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11/12/18
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Las Familias del Pueblo has purchased a 2k sf office and retail storefront in Los Angeles for $2 mil ($1,000/sf). Las Familias del Pueblo, a non-profit organization founded in 1982 by Episcopalian priest and former Roman Catholic nun Alice Callaghan, is a community center that provides services for families who live and work in the Central City area of Los Angeles.
Built in 1947, the single-story, single-tenant building is located at 1400 S. Broadway, at 14th St in L.A.’s South Park District. The property, situated north of I-10 and east of the 101 Fwy, sits on a 4.8k sf lot and includes 12 parking spaces.
The building will serve as the organization’s new community center. It was the first time the property had been sold in 50 years.
Steven Marcussen from Cushman & Wakefield represented Las Familias on a pro bono basis and was engaged by the non-profit to find a new location from which to run their operations. The building was sold by a private investor.
“I helped Las Familias del Pueblo lease their former space near Skid Row back in 1989,” said Marcussen, Executive Director. “With the acquisition of 1400 S. Broadway, Las Familias can offer their services from their new space in an improved area.”
“Now we have a home to provide services to poor immigrant families downtown for a long time to come,” said Alice Callaghan, who founded Las Familias del Pueblo over 35 years ago to provide day care for the young children of workers in nearby garment factories. Their programs are organized around the belief that poor children can achieve at the same academic level as their more affluent peers when provided the same educational opportunities and when the opportunities are supported by a strong after school program. Las Familias also works with the homeless downtown. Their former center was located at 307 E. 7th Street in L.A.’s Skid Row.
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