On a roll: Access Industries adds to DTLA haul

The New York firm scoops up 2 Fashion District warehouses, after buying renovated Ford Factory building

Los Angeles /
May.May 01, 2019 10:00 AM
Access Industries founder Len Blavatnik and the warehouse in DTLA
Access Industries founder Len Blavatnik and the warehouse in DTLA

Just weeks after purchasing the landmark Ford Factory building, Access Industries picked up a pair of warehouses just around the block in Downtown’s Fashion District.

For its latest haul, the New York-based industrial firm paid $32 million for 2020 E. 7th Place and the adjacent 2045 Violet Street, records show.

The seller was Los Angeles-based Lion Real Estate Group, which focuses on value add properties.

The building at 2020 E. 7th sold for $19.8 million. It was built in 2002 and includes 31,700 square feet and 17 loading docks. The other property sold for $12.2 million. It was built in 1941 and includes almost 11,650 square feet of space. Lion Real Estate purchased the property in 2000 for $684,000.

Last month, Access Industries paid $195 million for the 271,000-square-foot Ford Factory building. The privately-held industrial group owns Warner Music Group, which is the building’s tenant.

The Fashion District and neighboring Arts District have been undergoing transformations since the days when they held mostly empty warehouses.

Lowe development firm is building a 100,000-square-foot office project half a block away at 2130-2148 E. Violet Street.

Next month, Urban Offerings and ESI Ventures are redeveloping the 100-year-old Dearden’s property at 700 S. Main Street. It will transform into a mixed-use space with offices, restaurants and retail. The joint venture is also renovating the nearby Norton Building at 755 S. Los Angeles Street.


Related Articles

arrow_forward_ios
Vella's Zach Vella and SWRCC's Dan Langford with 1010 Sandhill Avenue (Vella Group, Southwest Regional Council of Carpenters, LoopNet)
Carpenters union buys Carson industrial from Zach Vella
Carpenters union buys Carson industrial from Zach Vella
TCW's David Lippman with and the City National Plaza at 515 S. Flower Street (David Lippman, City National Plaza)
TCW inks largest pandemic-era office lease in DTLA
TCW inks largest pandemic-era office lease in DTLA
eBay's Jamie Iannone with 455 North Fairfax Avenue (eBay, Google Maps)
eBay goes brick and mortar on popup for sneakerheads
eBay goes brick and mortar on popup for sneakerheads
Jeff Blau with 1755 Argyle St (LinkedIn, Commercial Observer)
Related Companies to sell Argyle House in Hollywood
Related Companies to sell Argyle House in Hollywood
Frank Gehry and the Ocean Avenue Project (Getty, Ocean Avenue Project, iStock)
Frank Gehry’s long-awaited Santa Monica project takes big step forward
Frank Gehry’s long-awaited Santa Monica project takes big step forward
Duke Realty's James Connor and 14724 Proctor Avenue in City of Industry (Google Maps, Duke Realty)
Duke Realty gets another 230K sf in City of Industry
Duke Realty gets another 230K sf in City of Industry
Bridge Industrial founder and CEO Steve Poulos and 4885 East 52nd Place in Vernon (Google Maps, Bridge Industrial)
Bridge Industrial picks up 8 acres in Vernon
Bridge Industrial picks up 8 acres in Vernon
Westmont's Andy Plant and Westmont Village Westmont Living, iStock)
Senior community nixes industrial development for more residential
Senior community nixes industrial development for more residential
arrow_forward_ios

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

Loading...