The new car smell may be long gone, but Lincoln Property is now the proud owner ofThe Desmond Building in South Park, a 1917 gem built as the Willys-Overland motor company's dealership and assembly plant. Later, the building (11th and Hope streets) became a warehouse for the old Desmond's department store.Lincoln plans to transform the five-story, nearly 79k SF building into creative offices to help fill Downtown's shortage, according to EVP David Binswanger. The building, just two blocks east of Staples Center and LA Live, will get updated mechanical systems and finishes but keep its high ceilings, nearly 16k SF floorplates, and original car elevator. Move-in anticipated mid-2014. Cushman & Wakefield's Marc Renard repped Lincoln in the acquisition.
Got a deal with an interesting back story? Let us know at julie@bisnow.com.
