Lincoln Property Company is looking to capitalize on the growing demand for creative office space in the Los Angeles metro area and has snapped up an intriguing property in the city’s downtown. The company recently announced that it is finalizing the deal for The Desmond building, a property that has gathered quite the history in its nearly 100 years of existence. The space will be completely renovated and converted to match current standards for its type of property. The revamped facility would also benefit from proximity to the growing L.A. Live entertainment district.
The Desmond is a vacant five-story building located in downtown’s South Park District. When completed, the construction will offer potential tenants a total of 78,500 square feet of newly renovated creative office space. The refurbishing process at the property will begin immediately, with the process set to last for a year. With ceilings ranging in height from 11 to 16 feet, the building looks like a great candidate for a Class A property, especially in a growing market.
The facility features 15,600 square foot floor plates throughout, as well as an adjacent surface parking lot which the new owner will use to support the building’s office and retail residents. Renovations will deal with building mechanicals, new windows, and brand new interior finishes while maintaining the attractive sense of spaciousness and rooftop views. The location is in close proximity to the city’s Metro rail system, Downtown Dash Bus station and major roadways. Additionally, local authorities are considering restoring the Downtown Streetcar service which would have a stop just next to The Desmond. Leasing for the building is already underway