DT Historic Broadway Building Trades Hands

LOS ANGELES—Waterbridge Capital has entered into an agreement to acquire the 1.1-million-square-foot Broadway Trade Center for an undisclosed amount. The sale is expected to close in the next 60 days. Once the sale closes, Waterbridge Capital plans to convert the historic building to a mixed-use complex.

The transaction is, in part, due to the successful Bringing Back Broadway campaign led by the city. “The revitalization of the Broadway Trade Center represents a profound boost to Broadway’s magnificent comeback,” says Councilmember José Huizar.  “Anytime a significant investment occurs anywhere in the city, it is something worth celebrating. The fact that an investment of this magnitude is happening on Broadway is the clearest indication that momentum on Broadway is building strongly and the historic street is indeed open for business. We are committed to working with the future owner to ensure this historic property is as important to our city’s future as it is to our past.”