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December 15, 2018
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Downtown LA’s Iconic Grand Central Market Gets a New Owner


Langdon Street Capital has acquired Grand Central Square in downtown Los Angeles, including the iconic Grand Central Market, which celebrated its 100th anniversary last Friday and has played a central role in the revitalization of the region. The sale also includes the historic Million Dollar Theatre, the Grand Central Square Apartments, the Grand Central Parking Structure, and other assets of the Grand Central Square partnership.

Langdon, a Beverly Hills-based real estate investment company, adds Grand Central Square to its portfolio consisting of core and value-added urban infill retail, multifamily, and creative offices throughout California, Nevada, New York and Texas. The price was not disclosed.

According to Langdon President Adam Daneshgar, the firm’s plan is to invest significant capital to enhance the Market and update the hospitality experience while being sensitive to the historic character of the property. “Our goal is to continue the incredible improvements the Market has implemented over the past half-decade and the legacy that precedes us.”

In recent years Grand Central Market, which draws roughly 2 million visitors per year, has been hailed by a wide range of culinary critics, reviewers and food fans while being honored with numerous national awards. It has served as an incubator for such wildly popular offerings as Egg Slut, Wexler’s Deli, and G&B Coffee, while being anchored by beloved long-time tenants like China Café, Villa Moreliana, Roast To Go and Tacos Tumbras a Tomas.

The principals were advised by Christophe Farber, founder of consulting firm Monkeyfoot International. Langdon was represented by David Passman of The Passman Group and advised by Julian Chicha of the Brighton Group.

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