April 7, 2016 Comments Off on DTLA Toyota Site Acquired for $30M Views: 536 California News, Los Angeles, West

DTLA Toyota Site Acquired for $30M

A 1.5-acre site at Figueroa St. and Venice Blvd. in downtown Los Angeles, currently home to a Toyota dealership, has been acquired by L&R Group for $30 million. The parking lot developer will build a parking facility at the location, though a larger project is conceivable if investor developers show interest in acquiring the site.

L&R owns more than 80 parking lots in DTLA, including a multilevel, 700-car lot on Eighth St. The company is exploring developing the site as a multi-level parking lot, anchored by ground-floor retail. Toyota is moving to another location nearby.

Colliers International’s Adam Tischer represented the buyer in the deal. Colliers’ Tom Lagos represented the sellers, George and Carole McCall.

Read More at Los Angeles Business Journal

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