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Caruso Pulls the Plug on Palisades Properties Deal

Developer Rick Caruso and the Pacific Palisades Village Ownership Group were looking to broker a deal for 10 commercial properties in the Palisades.

Caruso was in negotiations to purchase properties on Swarthmore and Sunset. Credit: Patch
Caruso was in negotiations to purchase properties on Swarthmore and Sunset. Credit: Patch

A deal that would have seen Los Angeles developer Rick Caruso purchase a series of retail stores in the Pacific Palisades, has collapsed, reports the Palisadian Post.

Back in December 2012, Caruso was reportedly in negotiations to develop the properties on Swarthmore Avenue and Sunset Boulevard.

Representatives from Caruso’s offices told Patch Friday morning that nobody would be available to discuss the issue until after the Labor Day weekend holiday.

Patch will bring you more details as they become available.

 

Julie Quigley Sorotsky September 07, 2013 at 10:36 AM
What is happening with the Rick Caruso deal? Why did it fall apart? Of all the important things going on in the Palisades, this is number one! We have lived in the Palisades for over 25 years and we can't believe how shabby and empty the village has become. It is disgraceful for such a gem.
Steve Dickey September 19, 2013 at 09:17 PM
According to the Palisades Post of 9/19 the deal is still on, but no one is talking, except "Body By Jake" Steinfeld. He's a friend of Caruso.
Linda Rubin November 16, 2013 at 01:59 PM
Hey Patch, how about pursuing this? It's been four months. Any updates?

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