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December 15, 2017
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Olivaceous Pays $348/sf for 14k sf Downtown LA Industrial Building

11/22/17

Olivaceous Inc, a Los Angeles-based garment manufacturer, has purchased a 13.8k sf industrial building on just over 20k sf of land in Downtown Los Angeles for $4.8 mil. The property was sold by Bradley J. Blahut of Los Angeles in a deal that works out to $348/sf.

Olivaceous will occupy a portion of the building for warehousing and lease out the balance. They are slated to begin occupying the building immediately.

The building, which is located at 1107 E. 7th St, a couple of blocks west of Alameda St, was built in 1976 by Blahut for his printing/collating company. His business has been operating in the property, known as Collating House, for more than 50 years. He started with two machines and one employee in a rented property down the street before building his own facility and growing the business to include eight collating machines and 27 employees.

In addition to his printing business, Blahut is active in the world of horse racing. His top winners include Southern Image, which won 9 of 14 races with a purse of $1.8 mil, and Caracortado, which won 9 of 19 races.

Kathleen Silver and Kay Sasatomi of Silver Commercial Inc represented the seller in the transaction. Brent Koo and Lee Yoo of Sperry Commercial repped the buyer.

“The property went under contract within a week of going on the market,” Silver said. “With the industrial vacancy rate below 2 percent there is high demand for this type of product.”

According to Sasatomi, the property is in a very desirable location outside the Arts District just two blocks from three major mixed-use development projects including The Row, a 1.9 msf campus; Alameda Square, a 344-unit live/work and retail community; and 6AM, a mixed-use community featuring two 58-story towers.





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