Bekins Selling Land Holdings

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. Ironically, this will put Amerivest in competition with Bekins, which has served the residential/commercial storage market for nearly a century.

When the program began four years ago, there were 108 land holdings. About 21 parcels were sold before Bekins was acquired in June, 1983 by Minstar Inc., Minneapolis, and 55 remain available. Bekins is having CBI locate replacement buildings throughout the Southland, according to Chuck Davis of the Northridge-based brokerage firm.