Land Partnership Regroups
The Carson Estate Co. and Watson Land Co., general partners of the pioneer Dominguez Properties--owner of the largest parcel of undeveloped land in the South Bay area--have dissolved their standing partnership.
In its place, three new independent partnerships have been formed. They are Carson Dominguez Properties L.P., with Carson Estate Co. as the sole general partner; Watson Partners L.P., with Watson Land Co. as the sole general partner and Dominguez Energy L.P., in which both Carson and Watson are general partners.
The Dominguez property is east of Cal State Dominguez Hills and surrounded by the San Diego, Harbor, Artesia and Long Beach freeways.
The dissolution affects more than 500 acres, part of the first Spanish land grant in California, and will “allow each general partner to pursue and better achieve its own different development and investment objectives,” according to William T. Huston, chairman and chief executive officer of Watson Land, and Joseph R. Brown Jr., president of Carson Estate Co.
They also announced that all oil and mineral interests have been transferred to the energy partnership, while the other two new firms will deal in real estate.
The new arrangement is expected to accelerate development of the 400-acre Dominguez Technology Center, taking up the last major space near both San Pedro and Long Beach ports and located between the Los Angeles International Airport and Long Beach Airport.
The master planning for the third phase of development, involving more than 300 acres in Dominguez Technology Center, west of Wilmington Avenue in Carson, is being carried out by the architectural and land planning firms of Howard Thompson & Associates and Phillips, Brandt & Reddick.
