Cushman & Wakefield Reps Non-Profit Pro Bono in Acquisition of New Community Center in Downtown L.A.

Steven Marcussen and Alice Callaghan at 1400 S. Broadway

Las Familias del Pueblo Has Provided Services to Local Families Since 1982

LOS ANGELES, November 6, 2018 – Cushman & Wakefield has represented the non-profit organization Las Familias del Pueblo in the acquisition of 1400 S. Broadway in Los Angeles.

Las Familias del Pueblo, 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. The organization acquired the 2,000-square-foot (sf) office and retail storefront for $2 million from a private investor and it 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.

“I helped Las Familias del Pueblo lease their former space near Skid Row back in 1989,” said Steve 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.

Built in 1947, the single-story, single-tenant building is located at Broadway and 14th Street in L.A.’s South Park District. The property sits upon a 4,800-sf lot and includes 12 parking spaces.

Alice Callaghan 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.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

2018-11-06T14:44:31+00:00 November 6th, 2018|0 Comments

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