Confidential
Settlement – $545,000Judge
Court
L.A. Superior Central
Attorneys
Plaintiff
Defendant
Experts
Plaintiff
Al Penaranda
(technical)
Gerald Chuman
(technical)
Facts
In early 1999, the owner of an automobile dealership approached the defendant, who owned a parcel of
commercial real estate adjacent to the dealership, with an offer to acquire the property so as to expand the size
of the dealershipÆs lot. The owner rejected the offer, and, shortly afterwards, the cityÆs Community
Redevelopment Agency informed the owner that it was condemning the property for redevelopment purposes
and that it had appraised its fair market value at $340,000.
Settlement Discussions
The cityÆs initial offer prior to litigation was $340,000; in August 2001, the city increased their offer to $432,000, and ultimately the parties globally settled for $545,000. The property owner demanded $620,000 plus cost, interest and attorney fees.
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