December 19, 2019
The sprawling downtown plant where the Los Angeles Times is printed has been sold to a New York real estate developer that builds large-scale mixed-use complexes in Los Angeles and other cities, as reported by the Times itself.
New York-based Atlas Capital Group paid approximately $240 million for the 26-acre site on Olympic Boulevard alongside the Santa Monica/I-10 Freeway where The Los Angeles Times is a tenant, according to the paper’s longtime commercial real estate editor Roger Vincent.
The seller was a partnership led by Los Angeles landlord and builder Harridge Development Group, which paid $120 million for the plant just three years ago. In recent years, the industrial neighborhood where it sits has enjoyed a run-up in property values as the nearby Arts and Fashion districts have seen billions of dollars worth of new residential, office and retail projects. Just a few blocks from the printing plant, Atlas is also developing the Row DTLA.
Photo Credit: Los Angeles Times Archive
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Tags: Acquisition, Development, Sale
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