Developers and investors have poured money into the Arts District for several years, buying up former industrial properties to transform into offices. There seems to be a move to build on the early successes in the Arts district as even more projects and leases are taking shape into the future.
Builders have continued to pursue projects throughout the pandemic. A handful of new efforts have also surfaced in the past year or so. In addition, the city continues to invest in parks and public services to meet the future demand of both residents and office workers.
In late April, Continuum Partners announced plans to build a 10-building mixed-use complex where Los Angeles Cold Storage now sits at Central Avenue and Fourth Street.
Existing commercial projects are acting as anchors for even more growth in commercial office space. One project owner wants to build a 470k-square-foot office and retail building next to the existing Ford Factory building.
Even with the downturn due to the pandemic leased space is not going unused. A lease given up by a shared office space start-up was quickly snatched up by a milk of the earth company known for oat and almond milk. This is a sign of both confidence and diversity in what types of companies are drawn to the Arts District now and in the future.
#ArtsDistrict #Entarispowerful
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