There’s plenty of areas across the nation that could use a little TLC, and many of them are right smack dab in the middle of a thriving area that’s filled with both tourists and local residents. One of those spots is in downtown Los Angeles’ Arts District. Specifically, a massive tract that was formerly the site of a historic industrial center known as Alameda Square has been just screaming for a little love. Before you get any ideas, Atlas Capital Group LLC and Square Mile Capital Management LLC have already beat you to the punch.
Row DTLA is set to transform the area as an adaptive reuse development. This massive project will span 1.8 million square feet on the 32-acre property, and the game plan calls for it to come to life as a trendy mixed-use destination. Plans call for 1.4 million square feet of creative office space and more than 230,000 square feet of retail and restaurant offerings, and this project is attracting tons of attention.
Holliday Fenoglio Fowler, LP recently orchestrated a partial sale and refinancing of the project which saw Healthcare of Ontario Pension Plan come on board to take on a minority stake as part of the deal. Several big names have already committed to being a part of this exciting development, including fashion retailer J Brand, which has agreed to occupy 29,000 square feet of space for its new headquarters. Among the other names set to join the roster include boxing studio Shadowbox, digital media firm Mitu, and streetwear retailer Bodega.
#SHOWGALLERY#
“With its rich history and wide variety of integrated uses onsite, ROW DTLA will be one of Los Angeles’ can’t miss destinations similar to places such as the Meatpacking District in New York,” noted Doug Bond, senior managing director with HFF in a statement.
“The extraordinary vision of the Atlas team and its partners has led to the creation of one of Los Angeles’ iconic assets that will be a destination for tenants, customers and tourists for years to come,” added Paul Brindley, senior managing director with HFF.
The project, formerly known as the Los Angeles Terminal Market, will slide into the largest contiguous block of land in Downtown. Other brands that have already signed on include Paramount Coffee Project, 13 Bonaparte, and Shades of Grey by Mica Cohen. Tourists and locals alike have a ton to look forward to, as Row DTLA sounds like a real game changer for the area.
