As the year comes to a close, several notable office buildings are trading hands.
1640 Sepulveda BoulevardHarbor Associates
This week, Harbor Associates, LLC and F&F Capital Group announced the acquisition of a five-story, 164,683-square-foot office building at 1640 S. Sepulveda Boulevard. The building, which sits just north of Santa Monica Boulevard and just east of the 405 Freeway, traded for less than half of what it sold for prior to the pandemic. Severe price cuts seem to be the name of the game these days, as the value of trophy assets such as EY Plaza in Downtown caved by more than 50 percent, while Aon Center traded for 45 percent below its last price.
Rendering of Coke Studios signageent! Marketing, Inc.
Good news if you have ever wanted to immerse yourself in the Coca-Cola brand - Coke Studio is on the way to the ground floor of (sigh) Crypto.com Arena. The 3,300-square-foot space, located at the southwest corner of Figueroa Street and Chick Hearn Court, is described as a "music studio and event space," which will feature branded merchandising, podcast recordings, live performances, and artist appearances.
Here's what we're reading this week:
The Ace Hotel Is Leaving A Storied Downtown Spot. Here’s Its Colorful History "The location at 929 South Broadway has gone through many transformations, including an office conversion, an arts theater and a church. While there’s little known about what exactly the change will look like, it’s a marked difference for downtown." (LAist)
Speed cameras coming to LA, Glendale and Long Beach "With the governor’s signature on AB 645, those speed cameras will be installed on what is considered a high injury road." (NBC4)
The Rose BowlWikimedia Commons
Go Metro (for free) to New Year’s Eve at Gloria Molina Grand Park in DTLA on Sunday....and Go Metro to the 2024 Rose Parade and Rose Bowl game! (The Source)
Public Comment Now Open: Metro Micro "Instead of operating vehicles on a fixed schedule and route, the service matches riders with flexible pick-up and drop-off locations and times to board smaller vehicles that seat up to nine passengers." (The Source)
View of One Westside looking southeast from Pico and Westwood BoulevardsHunter Kerhart Architectural Photography
University of California poised to buy former Westside Pavilion "The University of California seeks to acquire and improve three adjoining commercial properties along Pico Boulevard that make up the old mall, an environmental notice posted with the state showed. The efforts were first reported this week by the commercial real estate news site Urbanize L.A." (LA Times)
Streetsblog Predictions for 2024 "Predictions: Metro transit ridership will grow, Metro will complete freeway and rail projects, new bus shelters in L.A., and groundbreaking for high-speed rail" (Streetsblog LA)
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