June 12, 2017 Comments Off on Brookfield Acquires Majority Stake in $440M California Market Center Views: 615 California News, Top California Stories

Brookfield Acquires Majority Stake in $440M California Market Center

New York-based Brookfield acquired an undisclosed majority stake in California Market Center in Downton Los Angeles, a property valued at nearly $440 million. The 1.8-million-square-foot fashion showroom facility, which has primarily served the apparel industry, is envisioned as a potential workplace for companies outside the fashion industry.

Brookfield plans to invest millions to improve the 1960’s-era facility, and create an appealing destination for firms seeking creative work environments. The largest wholesale mart in the region has more than 1,000 showrooms in three main, interconnected 13-story buildings at 9th and Los Angeles streets.

California Market Center is 50% leased, a condition that reflects the changes sweeping across the retail industry. Fewer wholesale buyers visit the mart from big department stores and malls these days, as a result of online shopping trends.

NKF’s Kevin Shannon helped negotiate the deal with Jamison Realty Inc., which remains a co-owner of California Market Center.

Read more at LA Times

Connect With NKF’s Shannon

Connect With Jamison


Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.