Sandstone Properties buys industrial warehouse near DTLA for $42M

The industrial site was once used to print checks and bonds by Jeffries Banknote Co.

TRD LOS ANGELES /
Oct.October 03, 2017 02:00 PM
Eri Kroh and 1330 W Pico Boulevard (Credit: Sandstone Capital, Loopnet)

Private equity firm Sandstone Properties snagged a 152,000-square-foot industrial warehouse at 1330 W. Pico Boulevard near Downtown Los Angeles for $42 million, the Los Angeles Business Journal reported.

The seller was a private investor under the entity Wilshire Pacific Props. The company’s other holdings include two retail properties on Hollywood Boulevard and a 12,500-square-foot office property in West Hollywood, according to Real Capital Analytics.

The 1967-built, two-story industrial site was once home to legendary printing firm Jeffries Banknote Co. The 92-year-old company used to print travelers checks and municipal bonds for clients like American Express, Bank of America, China and even Bolivia.

Mark Tarczynski of Colliers International represented the buyer and seller. The buyer will most likely redevelop the property, Tarczynksi told the L.A. Business Journal.

Westwood-based Sandstone Properties, led by Eri Kroh, manages over 3 million square feet of office, retail and industrial properties. The company also owns a 14-story building at 14724 Ventura Boulevard in Sherman Oaks, which it paid $56.7 million for in September 2016. [LABJ]Natalie Hoberman


Related Articles

arrow_forward_ios
Alicia Silverstone from the film 'Clueless', 1995, and a rendering of the Beverly Center (Credit: Paramount Pictures/Getty Images, and Beverly Center via Los Angeles Times)

For LA’s malls, lawsuits could be the next crisis

For LA’s malls, lawsuits could be the next crisis
Bryan Domyan and the S. Hope Street development site (Credit: Google Maps)

Developer plans 144-key hotel near near Staples Center

Developer plans 144-key hotel near near Staples Center
Rendering of the project

LA Trade Tech plans new 80K sf building for DTLA campus

LA Trade Tech plans new 80K sf building for DTLA campus
From left: Council President Nury Martinez, Councilmember Jose Huizar, and Mayor Eric Garcetti (Credit: Jerod Harris/Getty Images, and Twitter)

“Greed, corruption, and deception”: City’s top pols want Huizar out

“Greed, corruption, and deception”: City’s top pols want Huizar out
Onni Group’s Rossano DeCotiis and a rendering of the project

Onni Group must redesign Times Mirror Square project, but the clock is ticking

Onni Group must redesign Times Mirror Square project, but the clock is ticking
Smoke Tokes was one business that burned over the weekend (Credit: APU GOMES/AFP via Getty Images)

Federal investigators probe large fire at cannabis products warehouse

Federal investigators probe large fire at cannabis products warehouse
City National Plaza, CommonWealth CEO Brett Munger Calpers CEO Marcie Frost

CalPERS venture snags $550M refi on City National Plaza tower

CalPERS venture snags $550M refi on City National Plaza tower
AEG CEO Dan Beckerman (Credit: Shaun Clark/Getty Images)

AEG plans 160-key hotel next to its DTLA headquarters

AEG plans 160-key hotel next to its DTLA headquarters
arrow_forward_ios

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

Loading...