New Mega Development for Los Angeles In South LA

 In California, Commercial, development, Los Angeles, net lease, nnn

It wouldn’t be a new day without another announcement of a large new mixed use project in Los Angeles, and this project won approval already from the City of Los Angeles Planning Commission. This one is a little different given that it’s slated for South LA, just south of the 10 bordered by Washington Blvd on the north, 21st on the south, Main on the east, and Hill St on the west. South Broadway runs through the middle of the project.

The project, West Block and East Block, will encompass two full city blocks that are now mostly surface parking lots.

The West Block will keep the existing structure named the Reef, which is a 12 story building that serves as a creative space for artists and entrepreneurs. Next to it will be a new 20 story hotel with 208 rooms with typical amenities.  Also a nine story structure with 100 apartments will be built.  The West Block will have a public paseo named “The Exchange” running between Broadway and Hill with triple net Los Angeles restaurants and net lease retail space for lease.

The East Block will feature two medium rise structures with a 32 story building with 428 condos and 14 live / work spaces. The taller of the two buildings, a 35 story tower, will feature 453 apartments.  The block will also have a paseo named “The Strand” stretching from Main to Hill.

Net lease Los Angeles retail shop space for lease plus cafe and restaurant space will line Broadway, Washington, Hill and 21st.

It’s just one more amazing project for the City of Los Angeles with plenty of retail and restaurant space for lease to keep local Los Angeles commercial real estate agencies happy. So potential tenants or buyers, if you’re interested in Los Angeles commercial property for sale or lease, give me a call, Scott Harris Realtor, 310-473-4789 and we’ll see what we can do.

http://la.curbed.com/2016/8/11/12441568/the-reef-south-la-development-planning-commission

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