DTLA's Largest Industrial Deal Closes

LOS ANGELES—Atlas LA 4th St. LLC has acquired the former Coca-Cola industrial building from Harmony Investments for $19 million. Located at 963 East 4th Street in the arts district, the 123,600-square-foot building is the largest to trade hands in the downtown submarket in three years.

“It’s hard to find 123,000 square feet,” Mollie Dietsch, SVP at Lee & Associates Central Los Angeles’ Commerce office, tells GlobeSt.com. Dietsch represented the buyer in the transaction along with Lee & Associates SVP Matthew Artukovich. CBRE represented the seller. “All of the other rehab projects of industrial buildings were done 10 years ago, and then, no one was paying more than $100 a foot for raw concrete slab,” Dietsch says. By comparison, this building was purchased for nearly $155 dollars a foot.