La Mirada : Toy Store Surrenders Lease for Prime Spot in New Mall
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The city of La Mirada has tentatively settled a toy company lawsuit that had been one of the hurdles delaying a proposed $130-million commercial and residential project on a 70-acre tract at La Mirada Boulevard and Rosecrans Avenue.
The company, Toys ‘R’ Us, will surrender its long-term lease in the old, partially demolished La Mirada Mall in exchange for a prime spot in a new commercial development on the same property, said Don White, director of economic development for the city’s Redevelopment Agency. Legal fees in the case cost La Mirada about $35,000.
The city is involved in another lease-settlement lawsuit with the El Torito restaurant chain. Because the restaurant was vacated in February, however, an anticipated court trial will not delay new construction.
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