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California  + Los Angeles  + Retail  | 

Drive-In Site in El Monte Will Give Way to Residential

DAUM Commercial Real Estate Services directed the sale of a 13.5-acre parcel of commercial land in El Monte for $24 million.  The Lara Team, Nick Peukpiboon and Rudy Lara, SIOR, from DAUM’s City of Industry office represented both buyer and seller.

The property at 2540 Rosemead Blvd. was formerly the home of the Starlite Drive-In movie theater. Following the demise of the drive-in theater business 30 years ago, the site was sold to Taiwanese-based Starlite Swap Meet Group and the site became known throughout Los Angeles for the Starlite Swap Meet.

The weekend-only swap meet, a mainstay of the El Monte community since the 1990s, was closed in 2020 during the COVID-19 pandemic and never reopened. With its closure, the current owners decided they were ready to sell the property.

The buyer, Los Angeles-based KB Homes, will use the property to construct up to 200 new homes in a new housing development.

“This property was an excellent opportunity for both the buyer and seller to achieve their business objectives,” said Peukpiboon. “After owning the land and managing the Starlite Swap Meet for three decades, the owner was ready to sell. With available land for new development at a premium, the chance to purchase over 13 acres of empty acreage was too good to pass up for KB Homes.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition