A tentative agreement to sell the 720,000-sf complex at SouthBroadway and Washington Boulevard was reached a few months ago,brokers involved in the deal say, but several contingencies had tobe met before the transaction could close. The sprawling complexfeatures 13 floors of furniture, home accessory and giftwholesalers.

L.A. Mart was developed in 1958 by the Los Angeles HomeFurniture Manufacturers Association, which had long pined for asingle spot where buyers from around the nation could view theproducts of hundreds of companies under a single roof. It thrivedthrough the 1980s, but then suffered—-as did the region's otherwholesale marts—-during the deep recession of the early 1990s.

Now the Mart's back on its feet, and its space is nearly fullyleased, according to an official at L.A. Mart LLC, the group ofprivate investors that has owned the complex for several years.Analysts say the sale to Vornado could mean even brighter timesahead, because the REIT operates a chain of such propertiesnationwide and has a massive marketing budget to match its strongindustry relationships.