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Last week, Warner Music Group sent shockwaves through the Los Angeles real estate industry by announcing its plans to relocate from Burbank to the Arts District in Downtown Los Angeles.  With more than 250,000 square feet of office space suddenly off the market, a new development could add more to the pipeline.

Yesterday, plans were filed with the City of Los Angeles to demolish a cold storage facility at 640 S. Santa Fe Avenue and replace it with new office building.  The proposed development would feature approximately 107,000 square feet of leasable space, in addition to ground-floor retail and restaurant uses.

A case filing from the Department of City Planning links the project to Continuum Partners, a Colorado-based real estate firm with satellite operations in California.  The majority of the company's developments are located in Denver.

The 640 Santa Fe development emerges as some Downtown brokers have discussed a potential ripple effect resulting from Warner's move.  Other ongoing office projects in the Arts District which stand to benefit include 4th & Traction and 500 S. Santa Fe Avenue.

The project site sits just south of the new Sixth Street Viaduct, which is now under construction.

640 S. Santa Fe Avenue (Image: Google Street View)
640 S. Santa Fe Avenue (Image: Google Maps)

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Small Lot Saturday: Eight Houses in Eagle Rock

The project would replace three existing homes.
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Irvine-based developer Calcagnie Group has plans for another small lot subdivision in Northeast Los Angeles, this time on the border between Eagle Rock and Highland Park.

The latest project, located at 6845-6855 N. Figueroa Street, would replace three existing houses with eight new residences.