LBA Realty acquires 7 For All Mankind HQ for about $29M

Los Angeles /
May.May 31, 2017 04:45 PM

LBA Realty, an Irvine-based investment firm, recently scooped up a 220,000-square-foot industrial property in Vernon, according to multiple sources.

The structure at 4440 E. 26th Street, which contains 30,000 square feet of creative office space, houses the U.S. corporate headquarters of 7 For All Mankind, a luxury denim brand. Its parent company, Delta Galil Industries, was the seller.

LBA paid about $29 million, or $132 per square foot, according to Real Capital Analytics. The firm could not be reached for comment to confirm the price, but a Vernon industrial broker with knowledge of the deal said it went for more than $28.6 million, or $130 per square foot.

Paul Sablock of JLL represented both the buyer and the seller, but declined to comment.

According to another Vernon-based industrial broker, LBA paid slightly above the submarket average for properties of this size.Typically, the broker told TRD, industrial properties go for about $120 per square foot in the region.

Delta Galil Industries, an Israeli manufacturer that owns a range of retail brands, acquired 7 For All Mankind — along with Splendid and Ella Moss — from VF Corporation last June.

The denim label will likely relocate into the offices of Ella Moss and Splendid on Alameda Street, according statements made by Delta CEO Isaac Dabah when his company bought the brands.

Earlier this year, Delta filed paperwork with the state to lay off 88 employees from the three brands. VF Corp. decided to sell the companies after seeing their revenues decline, California Apparel News reported.

The retail market at large is hardly rainbows and butterflies. Nearby in Vernon, Designer Max Azria, for example, defaulted on $34.6 million in loans attached to a trio of warehouses. One of his lower-tier brands, BCBG, filed for bankruptcy in March and announced it will close 120 stores.


Related Articles

arrow_forward_ios
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
CA warehouse rentals for e-commerce is booming, according to survey

SoCal developers see boom & bust in different markets in 2022

SoCal developers see boom & bust in different markets in 2022
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...