Marc Luzzatto and 3636 South Bronson Avenue (Credit: Google Maps)
Local developer Luzzatto Company wants to bring creative offices to Metro’s planned Crenshaw Line construction, banking on the city’s transit expansion.
The Beverly Hills firm intends to build out the new office space inside an existing warehouse at 3636 South Bronson Avenue, according to planning documents filed this week. The building is 42,000 square feet.
The property is near the city’s ambitious new light-rail line, which will run to Los Angeles International Airport starting in 2020.
Luzzatto paid $17 million in October for the South L.A. building, property records show. The expanding transit network is meant to help ease congestion and expand the range for what is considered commutable.
The site’s proximity to the Crenshaw Line also makes it eligible for the city’s transit-oriented communities program, potentially entitling it to the steepest development incentives allowed.
Luzzatto is partnering with the McGregor-Brown Company on the project, according to William McGregor, the firm’s owner.
Luzzatto did not immediately respond to request for comment.
As the traditional office supply tightens up, developers are increasingly turning to industrial conversions and speculative building to meet demand. In July, Luzzatto secured a buyer, the University of Southern California, for its large, spec-built creative office at 12414 Exposition Boulevard in Sawtelle. And Seritage Growth Properties and Invesco joined to turn a now-defunct Sears into offices in March.
Powered by WPeMatico