RELATED PRESS AND NEWS
Major Turnaround Coming to California Market Center
November 23, 2018
One of the biggest projects in Downtown Los Angeles, in terms of sheer size, is the transformation of the California Market Center. It aims to turn the hulking, 56-year-old complex into a modern mixed-use hub, and expand beyond its traditional tenant base of fashion showrooms by adding creative office space and extensive ground-floor retail.
Although work has already begun, Brookfield Properties, which acquired a stake in the property in 2017, last week finally revealed its full plans for the project, including how it will create more than 1 million square feet of new creative office space.
Reports Peg Dalian Wanda’s Sale of One Beverly Hills at $420M
November 16, 2018
One Beverly Hills may finally have a new owner. Chinese conglomerate Dalian Wanda Group has sold the property to London-based Cain International and Beverly Hills-based Alagem Capital Group.
The buyers have reportedly agreed to pay $420 million for the property at 9900 Wilshire Blvd., according to the Wall Street Journal, which cited a source familiar with the matter. Wanda put the property up for sale earlier this year.
Rodeo Drive Retail Building Sells for $96M
October 24, 2018
Commercial real estate firm Cushman & Wakefield announced the sale of a prime retail building along prestigious Rodeo Drive in Beverly Hills for $96 million.
The 11,625-square-foot retail building, at 457-459 N. Rodeo Dr., is home to Italian menswear retailer Brioni and British luxury fashion house Alexander McQueen.
The sale represents one of the highest price-per-square-foot – $8,240 per square foot – for Beverly Hills this year.
A Modern Twist on a Fashion District Market
October 22, 2018
DTLA – The dining scene in the Fashion District expanded over the summer with the openings of the bar and restaurant Dama and the Neapolitan-style pizza spot Superfine. The two sit inside City Market South, a former industrial campus of low-slung brick and concrete buildings.
The debuts marked a milestone in the first phase of the project. The eight buildings on a 2.5-acre site bounded by 11th, 12th, San Pedro and San Julian streets are now 87% leased. Only one space remains to be filled in the once-quiet complex that now functions as a modern creative office and dining hub.
L.A. RISING | Chinatown: Ripe for New Round of Development
September 28, 2018
Chinatown, replete with neon-laced pagoda-style buildings, art galleries and cultural festivals, has long been popular for dining, shopping and filming, including scenes from the classic 1974 Jack Nicholson film bearing the neighborhood’s name, among others.
These days, it’s real estate investors – particularly those who may have been priced out of downtown’s other submarkets – who are drawn to it.
Ariana Gomez to Depart L.A. Fashion District BID
September 20, 2018
After seven years of working with the L.A. Fashion District Business Improvement District, the organization’s director of marketing and external relations, Ariana Gomez, will leave on Sept. 21 to pursue other career interests in content strategy with an unnamed swimwear brand.
Working with the L.A. Fashion District BID since January 2012, when she started as a public information coordinator, Gomez rose through the organization and was promoted to marketing and public-relations manager in January 2014, according to her LinkedIn profile.
Historic Bendix Building Becomes a Downtown Art Haven
August 10, 2018
“I love having artists around!” says Steve Hirsh, owner of the Bendix Building, Beaux-Arts princess of the downtown Fashion District skyline, at 1206 Maple Ave. Familiar to all for its fabulous neon sign tower (the “B” alone is 25 feet tall), the Bendix has presided over the Maple Avenue/Santee Alley district since 1930, back when it was the HQ of an aviation company, long before it became the globally famous fashion industry destination of today. Hirsh’s late father, Stanley, bought, renovated, occupied and promoted the building in the 1970s, turning it into the hub of garment-centric production and creative space it remains to this day.
Amid Gentrification, LA’s Arts District Residents Push For Affordable Housing For Artists
June 21, 2018
The Los Angeles Arts District is starting to miss something: artists. With the Arts District undergoing a massive transformation from an artists haven to a vibrant trendy cultural neighborhood destination, many of the artists that once called this place home have been displaced or evicted due to high rents and gentrification. For the Arts District to continue to thrive and maintain its art reputation, neighborhood advocates and some developers agree, the place needs to keep its artists.
Reinventing the Row: A Faded Manufacturing Hub Gets New Life
June 13, 2018
DTLA – On an overcast Tuesday afternoon, the Row DTLA complex in the Industrial District is bustling. Dozens of construction workers are doing renovations on one of the six massive buildings. On the central and western portions of the site, shoppers parade down the long thoroughfares between the concrete structures. Some stop to duck into a clothing or other boutique. Others head to a new oyster bar or one of the handful of dining options.
Changes on the Fashion District’s Los Angeles Street
May 31, 2018
Renovation in the Los Angeles Fashion District is hitting high gear as the mammoth Broadway Plaza apartment complex on Broadway is getting ready to open and a major lease has been signed at the hip retail complex called Row DTLA, which is located just outside the district.
The area is experiencing a resurgence in major corporate players, such as Adidas, which reportedly inked a deal to rent 31,000 square feet of office space at the industrial complex that sits next to the old American Apparel factory on Alameda Street. Spotify, the digital website that lets you stream music, is moving from West Hollywood, Calif., and considering setting up offices in the same part of the neighborhood.
City Market speeds Fashion District’s turn to booming downtown neighborhood
September 8, 2017
For decades, suppliers laden with fruits, vegetables and nuts would pull up to the courtyard of City Market, a century-old wholesale produce mart in what is now the eastern side of downtown’s Fashion District.
But on one recent weekday, it was the warm scent of charcoal from the oven at industrial-chic Italian restaurant Rossoblu that wafted over the courtyard where horse carts and later diesel trucks once brought their perishable wares for sale.
The Boom Continues: Updates on 102 Downtown Projects
May 26, 2016
DTLA – What’s the hottest business sector in Downtown Los Angeles right now? Nightlife is an easy guess, as people from throughout the county flock here for the plethora of bars, restaurants and concert venues. The pet industry also qualifies, as it seems that every new resident has a dog or cat.
The most reliable field, however, may be the crane industry, as in those who make the machines that facilitate housing and other development. Just open your eyes and look up — the cranes are seemingly everywhere.