Florance Sells Carriage Realty

Carriage Realty, the major independent real estate firm on the Palos Verdes Peninsula, has been sold to Coldwell Banker Residential Real Estate, a subsidiary of Sears Roebuck & Co.

Carriage owner Ronald Florance, a former Palos Verdes Estates city councilman, said the four offices of his company have joined six Coldwell Banker offices and will serve the region stretching from the Palos Verdes Peninsula to Huntington Beach. Florance will head the offices as general manager and regional vice president.

Florance, who bought Carriage in 1982, said the company has sold 20,000 homes since it was founded in 1966.