LOS ANGELES—AEG has signed a lease withLincoln Property Co. for the DesmondBuilding, an 82,000-square-foot officebuilding in the South Park neighborhood of Downtown LosAngeles. The location will serve as the headquarters of AEG'sticketing and live entertainment divisions, AXSTicketing.

Lincoln Property Co. purchased the property in March 2013. Builtin 1916, the property most recently severed as the warehouse ofDesmond's department store. Lincoln Property plansto renovate the warehouse into a creative officespace with a ground floor cafe. The renovation includes theaddition of a 7,000-square-foot sixth floor that brings the squarefootage up to 82,000 square feet, and a seismic retrofit andupgrades that will both maintain the historic appearance of thebuilding and make it safer for earthquakes. Construction will takeplace soon, and will be completed in April 2015 when AEG will takeoccupancy.

"AEG is one of the world's leading concert touring andpromotions companies, and for years has been a major catalyst forthe revitalization of Downtown L.A.," David Binswanger, LincolnProperty EVP, tells GlobeSt.com "Our transformation of The Desmondinto high-quality, creative office space will allow AEG to runtheir dynamic live music and ticketing businesses in a modern,collaborative work environment. We can't wait to see what theydo."