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1/20/21
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Prologis LP has acquired a 361.7k sf redevelopment site in Downtown Los Angeles from Greyhound Inc. A price was not given out.
Greyhound will lease back the 8.29-acre site, located at 1526, 1614, and 1716 E. 7th St, across the street from a future Metro Station, on a short-term basis to provide the transit company time to relocate. Prologis plans to redevelop the site.
CBRE’s Phillip Sample, Chris Caras, Michael Shustak, and Guy Ponticiello represented Greyhound. Kidder Matthews’ Mark Vanis repped the buyer.
“This site is the gateway into the Arts District and represents one of the largest land sales in Downtown Los Angeles and the Arts District,” said Sample. “This property is adjacent to several other massive redevelopment projects in the Arts District to add to the ever-evolving Downtown Los Angeles urban renaissance.”
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