4725 E. 2nd Street, Belmont Shore, California
Northwest corner of 2nd Street and Park Avenue in Belmont Shore, California.
The property was a former Unocal gasoline station. At the time of acquisition, the property was a vacant lot. The land size is 10,000 square feet.
The development included a 5,300 square foot multi tenant retail shopping center, which is leased to Chicos, T-Mobile, and We Olive.
The property contained petroleum contamination in the groundwater and soil. During construction, we encountered significant petroleum impacted soil and groundwater, which required segregation, pumping and off-site disposal. The remedial activities were coordinated with Unocal at their cost.
The geotechnical study determined that the subsurface soils beneath the building footprint contained liquefiable layers, and required a structural slab. Consequently, the project required the installation of caissons as part of the building foundation design and construction.
Disclaimer: This property was purchased, developed, and leased under the leadership and supervision of Aaron Swerdlow, as a co-founder of Festival Development Partners, LLC. This is not an Equitas Investments, LLC project.