PICO RIVERA, Calif., Nov. 21, 2019 /PRNewswire/ -- Optimus Properties, LLC, through an affiliate, and with financing provided by First Republic Bank, has acquired the land formerly occupied by El Rodeo nightclub, located at the corner of Washington Boulevard and Rosemead Boulevard, in Pico Rivera, California, immediately adjacent to the LA Fitness-anchored Pico Rivera Marketplace which is also a part of the Optimus portfolio.
Optimus plans to demolish the existing, blighted former nightclub, and revitalize this valuable, centrally-located property by creating a planned development encompassing attractive, modern residential units.
Kamyar Shabani, one of the principals of Optimus, stated, "This parcel is a 'sleeping giant,' which we will seek to convert into its highest and best use." K. Joseph Shabani, Optimus' other principal added, "We look forward to unifying the two properties and creating a unique and enjoyable live-work-shop experience serving the whole of Pico Rivera."
Optimus Properties, LLC, located in Los Angeles, California, was founded by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation in office, retail, office and medical office properties throughout Los Angeles.
SOURCE Optimus Properties, LLC