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Lowe and Related Fund Management Start Work on Office Building in DTLA’s Arts District

7/15/20

A joint venture between Lowe and Related Fund Management (RFM) has begun construction of a 113k sf, nine-story office building located at 2130 Violet St in Downtown Los Angeles’ Arts District – a designated Opportunity Zone. Lowe and RFM recently formed a partnership for the Violet Street development, which has been in planning and predevelopment by Lowe since 2017.

The Violet Street office building is a state-of-the art, ground-up development providing open floorplates, high ceilings, operable windows, and energy efficient building systems and HVAC. The building’s top four floors are dedicated to contemporary and flexible office space, with substantial terraces allowing for increased circulation of fresh air and connected indoor/outdoor work and meeting spaces. With large 27k sf floorplates, 2130 Violet Street offers companies the ability to design the interiors to comfortably meet new office design needs while maintaining individual identity.

Another significant outdoor feature is an approximately 3k sf rooftop deck that will be outfitted with lounge seating, tables and chairs, well-spaced across this large open space, providing another safe and welcoming meeting option and area for employees to relax and enjoy the uninterrupted downtown and mountain views.

“Located in one of Los Angeles’ most distinctive markets, Violet Street will be a contemporary office building that also offers many features that have become even more desirable as companies transition their offices to meet new requirements. With large contiguous spaces, floor-to-ceiling windows, outdoor terraces, operable windows and rooftop deck, Violet Street’s combination of location and building features make it a compelling option in today’s office market,” noted Tom Wulf, Executive Vice President, Lowe.

Violet Street’s office space is set atop 3.4k sf of ground floor retail, and four levels of parking with 275 spaces, a rarity in the Arts District as many of the area’s industrial conversions have limited parking. The property is 1.5 miles from the Metro Little Tokyo/Arts District Regional Connector station, currently under construction at 1st Street and Alameda, and alternative transit will be encouraged by providing abundant bike storage space with lockers and showers as well as car, bike and scooter share services.

The area neighboring Violet Street in the Arts District has already attracted significant investment such as the rehabilitation of the former Ford Factory where Warner Music Group relocated and opened its L.A. headquarters only one-half block from Lowe’s Violet Street development; a new SoHo House only one block to the south, and the existing office campus for Hyperloop One on Bay Street is just south of Violet Street.

As part of the 2130 Violet Street development, the company is installing public infrastructure including sidewalks, crosswalks, a traffic signal, tree grates, street lighting, and landscaping along its Violet Street frontage as well as a “green alley” with pervious pavement technologies. These efforts combine to create an appealing environment that is easily walkable to the neighboring cafes and businesses.

The building’s design, created by architect Ware Malcomb, takes its cues from the area’s industrial warehouse character and incorporates materials such as exposed concrete and steel detailing in its execution. The joint venture selected Swinerton as general contractor and anticipates completion in early-2022.

The Cushman & Wakefield brokerage team of Mike Condon, Jr., Pete Collins, Scott Menkus, and Brittany Winn is managing leasing. The joint venture between Lowe and RFM was brokered by Todd Tydlaska and Mike Caprio of CBRE and Mike Condon of Cushman & Wakefield. Project financing was secured by Tim Meier and Matt Swanston at Preferred Capital Advisors.





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