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LOS ANGELES COUNTY NEWS
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AEG Leases 82k sf Historic Building in Downtown LA to Consolidate Divisions Near L.A. Live

7/09/14

AEG has agreed to lease The Desmond building, located at the corner of Hope and 11th Streets in Downtown Los Angeles. The historic building is situated just two blocks from AEG’s corporate headquarters at L.A. LIVE, enabling the global live sports and entertainment company to consolidate many of its worldwide L.A.-based divisions across 82k sf under one roof.

AEG plans on relocating more than five hundred employees from its AEG Live (including Goldenvoice) and AXS Ticketing (including Outbox Technologies) divisions. The move further solidifies downtown Los Angeles as the center of arts, culture, dining, sports and business in the region.

AEG Live is the world’s 2nd largest concert touring and promotions company. The global organization dedicated to all aspects of live contemporary music performance is comprised of touring, festival, exhibition, broadcast and special event divisions, 15 regional offices, and owns, operates or exclusively books 35 state-of-the-art venues as well as annual festivals such as the Coachella Valley Music and Arts Festival and Stagecoach.

The Desmond is owned by Lincoln Property Company, which purchased the building in March 2013. The company has already started transforming the building, constructed in 1916 as the Willys Overland Company’s car dealership and assembly plant. The building, which later became a Desmond’s department store warehouse, is located along the proposed line for the Downtown Los Angeles Streetcar project.

"This project will breathe new life into the long-vacant Desmond building and answer the ever-increasing call for creative office spaces, while bringing 500 new jobs to Downtown L.A.," said Councilmember José Huizar. "Whether we're talking about commercial reuse for creative office and boutique hotels like we're seeing on Broadway, new construction like we're seeing in South Park and the Arts District, or finding new uses for gems like the Desmond building, it's clear Downtown Los Angeles is open for business."

To prepare The Desmond for occupancy by AEG, Lincoln will deliver high-quality, creative office space and a ground floor café. The transformation includes the addition of a 7k sf sixth floor that will bring the total size of the building to 82k sf. Construction is anticipated to last eight months, with full occupancy expected in April 2015. This will be the first of many potential renovations of historic properties located in the South Park district for creative office use.

Design for the renovation of the building and the interiors of the AEG space is by the Los Angeles office of Skidmore, Owings & Merrill LLP (SOM). The adaptive reuse of this five-story concrete and brick building will include loft offices with a new glass pavilion added above the existing roof, creating a new 6th level. SOM’s design will include significant structural upgrades into the building to fully meet the seismic and lateral loading code. The existing steel windows will be refurbished and new storefronts will be designed for the Street Level.

“The Desmond is a great example of how a long-dormant warehouse building with uniquely authentic design characteristics and historic value can be transformed into a 21st century office hub for one of our city’s and country’s leading entertainment companies,” said Rob Kane, Vice President with Lincoln Properties. “We’re confident that The Desmond will be a model for responsible restoration of early 1900s concrete structures in Los Angeles, and a showcase of creative office space in the thriving South Park area of downtown.”

The Desmond, along with its adjacent parking lot, is located in the heart of downtown Los Angeles’ burgeoning South Park District, situated just two blocks east of STAPLES Center and L.A. LIVE – both AEG-developed and owned facilities. The immediate neighborhood encompasses 32 square blocks of residential properties and includes many of the most dynamic retail and entertainment venues in downtown including numerous new clubs, bars and restaurants.





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