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REAL ESTATE
October 27, 1985
As part of an ongoing real estate disposition program that began in 1981, Bekins has sold about $25 million worth of real estate in 15 parcels in California, Texas and Virginia to Amerivest, Newport Beach, according to CBI Properties Inc. Amerivest will convert the warehouses--seven of which are multistory reinforced concrete structures like the Western Avenue facility--to self-storage facilities.
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BUSINESS
April 17, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
Household-goods mover Bekins Co. on Tuesday agreed to be acquired by International Logistics Ltd., a company recently formed by the Los Angeles-based investment firm William E. Simon & Sons. The proposed purchase price was not disclosed. But based on other transactions, the price is probably less than the $230 million of revenue that Bekins recorded in its fiscal year ended March 31.
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BUSINESS
April 24, 1985 | VICTORIA McCARGAR
Bekins Co., which two years ago was acquired by Minneapolis investor Irwin L. Jacobs, has a new president, the second top officer installed by Jacobs at the Glendale-based moving and storage company. Thomas E. Epley, 44, a former executive of Chicago-based FMC Corp., was named president and chief operating officer, the company announced late Monday. He joins Chairman and Chief Executive Ken Severinson, 44, a longtime associate of Jacobs and Jacobs' Minneapolis-based Minstar Inc.
NEWS
March 5, 1993
Lucien W. Shaw, 83, Los Angeles attorney who was executive vice president and general counsel of Bekins Van & Storage Co. Shaw, considered an expert on federal tax issues, served on the advisory committee of the American Law Institute Project studying tax reform. Shaw and his wife, Bea, 82, of Lake Forest in Orange County, died in a traffic accident. On Sunday in Santa Paula.
BUSINESS
January 24, 1985
The Minneapolis-based investor said that Minstar Inc., the holding company of which he is chairman with a 47% interest, has used up most of its tax credits. Consequently, he told Minneapolis securities analysts, he is searching for a company with a tax loss of $200 million to $300 million to buy part of Minstar. He also said that the Bekins division of Minstar is seeking to sell its California real estate and lease back the properties to raise cash.
SPORTS
November 22, 1985 | RICHARD HOFFER, Times Staff Writer
What can you say about Larry Brown. Still Kansas after all these years? The man has been here for two seasons, with the bitter-cold winds whipping off the prairies up against his field house each winter, and all people can marvel at is his sheer stick-to-itiveness. And here he is, still Kansas after all these years, going into season No. 3. When all is said and done, that is, in fact, what you say about Larry Brown: That he's still here.
NEWS
March 1, 1989 | LEON WHITESON
They rise like medieval castle keeps above busy Southern California intersections. Their steep blank sides, relieved by rows of small windows, give no clue to the activities behind their fortress-like walls. Only the skyline signs reading Bekins Storage reveal the mundane purpose of these muscular architectural landmarks. The era of the grand Bekins castles is past, along with the grandeur of the service that moved America when the entire country seemed to be shifting West.
REAL ESTATE
March 30, 1986
Chuck Davis, executive vice president of CBI Properties, Northridge, has reported the completion of sales transactions exceeding $3.15 million for the Bekins Co. They included a 15,000-square-foot facility at 1572 Warner Avenue, Huntington Beach; a 20,500-square-foot building at 99 Hyde Court, Daly City, and a 20,550-square-foot warehouse at 77 Hamilton Drive in Novato.
BUSINESS
June 11, 1985
The Atlanta-based termite and pest control company acquired Ace Pest & Termite Control for undisclosed terms. Orkin, the major subsidiary of Rollins Inc., a nationwide consumer services company, has annual revenue of approximately $250 million and operates more than 300 termite and pest control and lawn-care outlets in 38 states and the District of Columbia. Ace has annual revenue of $3.5 million and operates four branches in the Los Angeles area.
BUSINESS
December 19, 1986 | NANCY RIVERA BROOKS, Times Staff Writer
Corporate raider Irwin L. Jacobs' Minstar Inc. said Thursday that it agreed in principle to sell Bekins Co. of Glendale to its management. Terms of the transaction were not disclosed. Minstar said it will retain a stake in the 95-year-old moving and storage company after the leveraged buyout but did not disclose the size of its future holdings. In a leveraged buyout, a company is purchased with borrowed funds that are repaid with cash generated through company operations or the sale of assets.
BUSINESS
August 15, 1989 | JAMES F. PELTZ, Times Staff Writer
Thomas E. Epley, chairman of Bekins Co., recently moved into a new ground-floor office at Bekins' modest, red-brick headquarters building in Glendale. But in front of his desk is a wall still undergoing renovation, its wallpaper torn away and awaiting a new finish. The wall is an apt metaphor for Bekins since Epley took the helm of the venerable moving company in 1985.
NEWS
March 1, 1989 | LEON WHITESON
They rise like medieval castle keeps above busy Southern California intersections. Their steep blank sides, relieved by rows of small windows, give no clue to the activities behind their fortress-like walls. Only the skyline signs reading Bekins Storage reveal the mundane purpose of these muscular architectural landmarks. The era of the grand Bekins castles is past, along with the grandeur of the service that moved America when the entire country seemed to be shifting West.
REAL ESTATE
August 30, 1987
The former Bekins Moving & Storage building at 2101 E. Carson St., Long Beach, has reopened after the new owner completed an extensive rehabilitation and expansion program. American Mini Storage spent more than $5 million to purchase and upgrade the complex, which it bought from Bekins last year. The project now offers 115,000 square feet of self-storage space, and is guarded by a modern security and fire protection system.
REAL ESTATE
June 28, 1987
Bekins Moving & Storage has hosted civic officials at a moving-in party to celebrate the opening of the 96-year-old firm's largest warehouse. Located at 2303 East 11th St. in the Central City Business Park, the building was constructed on a 10-year lease, valued at $5.5 million. The 96,000-square-foot facility was described by its builder and landlord as "the perfect warehouse." Ramon Bonin, president and owner of Los Angeles-based Dynamic Builders Inc.
BUSINESS
May 9, 1987 | BRUCE KEPPEL, Times Staff Writer
Minstar, a publicly traded company headed by Minneapolis investor Irwin L. Jacobs, said Friday that it has sold its Bekins subsidiary to the Glendale-based moving company's president, Thomas E. Epley, for $66 million. Under the deal, Epley will remain president and hold a majority stake in the company. Minstar, which is to receive $51 million in cash and the balance in notes, will retain a 40% interest in Bekins, Epley said.
BUSINESS
December 19, 1986 | NANCY RIVERA BROOKS, Times Staff Writer
Corporate raider Irwin L. Jacobs' Minstar Inc. said Thursday that it agreed in principle to sell Bekins Co. of Glendale to its management. Terms of the transaction were not disclosed. Minstar said it will retain a stake in the 95-year-old moving and storage company after the leveraged buyout but did not disclose the size of its future holdings. In a leveraged buyout, a company is purchased with borrowed funds that are repaid with cash generated through company operations or the sale of assets.
REAL ESTATE
August 30, 1987
The former Bekins Moving & Storage building at 2101 E. Carson St., Long Beach, has reopened after the new owner completed an extensive rehabilitation and expansion program. American Mini Storage spent more than $5 million to purchase and upgrade the complex, which it bought from Bekins last year. The project now offers 115,000 square feet of self-storage space, and is guarded by a modern security and fire protection system.
REAL ESTATE
July 20, 1986
American West Financial of Santa Barbara, represented by Zugsmith & Associates of Studio City, has purchased a 37,000-square-foot building at 35 W. Huntington Drive, Arcadia, from Bekins Moving & Storage Co., represented by CBI Properties Inc. of Northridge, for $1.3 million, reportedly to convert it into a mini-storage warehouse.
REAL ESTATE
July 20, 1986
American West Financial of Santa Barbara, represented by Zugsmith & Associates of Studio City, has purchased a 37,000-square-foot building at 35 W. Huntington Drive, Arcadia, from Bekins Moving & Storage Co., represented by CBI Properties Inc. of Northridge, for $1.3 million, reportedly to convert it into a mini-storage warehouse.
REAL ESTATE
June 29, 1986
The 37,000-square-foot, five-story Bekins Moving & Storage warehouse in Sherman Oaks has been sold for $1,486,000 to private investors Dennis and Joanne Geiler who plan to convert the property to self storage.
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