Rick Caruso's latest mixed-use has started to take shape, with the billionaire buying the former Masonic Temple, two adjacent buildings and an adjoining vacant lot in Glendale. In classic Caruso fashion, Rick envisions repurposing the property (directly across the street from his Americana at Brand) into creative office space with some retail and restaurant. Rick says the temple is an architectural gem and intends to preserve the history of the building while creating modern office space and social hangouts for the community. The nine-story art deco tower was designed in 1927 by Arthur G. Lindley, who also designed Glendale’s iconic Alex Theatre.
The property, located at South Brand Boulevard and Colorado Street, totals about 68k SF of building area and about 38k SF of land. Rick says he's been in talks to buy the property from owner Frank De Pietro for about five years. The project is just the latest in a recent wave for one of LA's wealthiest real estate moguls, who is working on his plan to overhaul a city block in Pacific Palisades and just recently announced plans for a 154-unit luxury mixed-use tower at 333 La Cienega near Beverly Hills.
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