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Fast-fashion brand Forever 21 has reportedly sold its corporate headquarters in Los Angeles to The Blackstone Group for $166M.
Sources confirmed the transaction to the Los Angeles Business Journal.
A Bisnow email to Forever 21 was not returned, and Blackstone could not be reached.
The 2.1M SF industrial facility at 3880 North Mission Road in the Lincoln Heights area of Los Angeles has been home to Forever 21 since the company acquired it from Macy's in 2010 for $38M. The building was a former Macy's showroom.
Forever 21 has used the facility as a logistics, warehouse and distribution facility.
Founded by couple Do Won Chang and Jin Sook Chang, the private company has nearly 500 stores worldwide and had $3.4B in revenue in 2017, according to Forbes.
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