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De La Hoya Drops Out of Sears Deal (Again!)

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Oscar De La Hoya's Golden Boy Enterprises, which inked a new deal to purchase the Sears property in Boyle Heights in January, has dropped out again, according to the listing agent for the 22-acre site. Readers will recall that De La Hoya dropped out of last summer's original $70 million deal before signing that new deal in January. As the Los Angeles Business Journal initially noted, De La Hoya used to shop at the Sears store with his mom when he was a kid; at one point he planned to build a mixed-use development on the site. This Boyle Heights deal was supposed to help jump start the area, but at least there's the planned $2 billion Wyvernwood Garden Apartments development. How's that going?
· Sears listings [CBRE]
· Sears Site Back in De La Hoya's Corner [LABJ]
· De La Hoya Pulls Out Of Boyle Heights Sears Deal [Curbed LA]