LOS ANGELES—The downtown arts district is set to get 150,000square feet of creative office space in the formerCoca-Cola production facility. GPICompanies and Atlas Capital formed ajoint venture LLC under the name Atlas LA 4^thSt to purchase the property in April of this year for $19million. The transaction was the largestindustrial transaction in the downtown market forthe past three years. Now, the owners have revealed plans for amulti-million dollar renovation project to convert the warehouseinto creative office and retail space. Thedevelopment is set to come online in the fourth quarter of2015.

HLW International is designing the project,dubbed Fourth & Traction. The five-story,class-A development will include 70,000 square feet of retail spaceon the street and subterranean levels. Creative office will be onthe top four floors, and will feature 35,000-square-foot floorplates and 14-foot ceilings as well as large windows that show offpanoramic views. The project will also include communal features,like an atrium lobby and a 10,000-square-foot rooftop penthouse anddeck with outdoor kitchens and fire pits.

In preparation for next year's opening, the owners have launchedleasing efforts for both the retail and office portions of thebuilding. Industry Partners will handle theleasing for the creative office space, while RKFwill oversee leasing efforts for the retail portion. “The retailand the restaurant component of the project is really to servicethe community as a whole, not just the building itself. We aregoing to program this in a fashion that is very dedicated to thetype of office user that will be occupying the building,”Rachel Rosenberg, EVP with RKF, tells GlobeSt.com.“We will have ancillary restaurants, coffee and bakery conceptsthat will be open around the clock, as well as specialty retail ofbrands that aren't so typical to Los Angeles and that are a bitmore experiential, as well as destination-type restaurants.”Rosenberg is handling leasing along with president RobertCohn and associate Van Blackman. Althoughthe team is receiving phenomenal interest in the spaces, Rosenbergsays they don't have a firm goal for lease-up because they arefocused on creating the right tenant mix rather than filling thespace.