The firm has acquired 12 buildings in past 15 months
UrbanBlox, a Los Angeles-based boutique development firm, announced today that it has acquired a 51,055-square-foot office building in Downtown Los Angeles’ Jewelry District for $8.54 million. This is the firm’s 12th acquisition in the past 15 months which includes creative, mixed-use and multifamily properties in the LA River, Downtown Los Angeles, Hollywood and Silver Lake areas.
Located at 718 S. Hill Street, the firm plans to redevelop the building into creative office space with ground floor retail. The building will feature open ceilings, collaborative spaces and distinct interior. Suites will range from micro incubator to full floor, 7,000 square feet.
“While several Downtown LA neighborhoods have been transformed in recent months, we are confident that the Jewelry District will continue to grow into a creative office hub for businesses,” said Raffi Shirinian, UrbanBlox Principal. UrbanBlox is actively seeking to acquire additional properties in Los Angeles that it can redevelop towards new uses.
JLL Los Angeles’ Mike Condon Jr. represented UrbanBlox in the acquisition. BRC Advisors represented the seller.
Click here to see the press release on our website: Investment Firm UrbanBlox To Redevelop Mixed-Use Building in Downtown Los Angeles