Luzzatto Co. assembling creative office hub in West Adams

The local developer has a half-dozen properties and 140K sf of space in various stages of development

3339 Exposition Blvd. and Asher Luzzatto
3339 Exposition Blvd. and Asher Luzzatto

The Luzzatto Company is building a creative office hub in West Adams, after assembling half-a-dozen properties totaling at least 140,000 square feet.

Asher Luzzatto, president of the Fairfax-based development firm, said the company had acquired five properties and was in escrow for a sixth, all near Exposition and Crenshaw boulevards a couple of blocks from each other. The properties are in various stages of development.

This week, the company said it had lined up a $30 million refinancing package for Exposition 2, a 56,000-square-foot conversion project at 3339 West Exposition Place. JLL arranged the 10-year, fixed-rate loan. Luzzatto Company purchased the building in 2018 for $17.25 million, and undertook the renovation earlier this year. It is fully leased to GOAT, an online sneaker marketplace.

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Over the summer, the firm acquired 3101 Exposition Boulevard, which salad chain Sweetgreen will use for its new headquarters. Luzzatto Company paid $15 million for the 50,000-square-foot property, a former dairy building that is being redeveloped.

The remaining properties in the West Adams portfolio are: 3644 11th St., a 9,000-square-foot industrial space space; 3629 10th St., a 12,000-square-foot space; and 3645 10th St., an existing 22,000-square-foot creative office campus.

Asher Luzzatto declined to identify the sixth property, which is in escrow, but said he expects to close on it in early 2020.