DLJ Real Estate Capital Partners just bought a five-story, John Parkinson-designed property in the Arts District and a neighboring building for $20M, or $305/SF, from Rollins & Rollins.
The Parkinson building at 800 Traction Ave., which dates back to 1918, originally housed the Ben-Hur coffee and spice factory. It was transformed into artist-in-residence lofts in the 1980s, the LA Business Journal reports.
The building and the two-story industrial building at 810 Traction Ave. have 15 units and 65,500 SF of commercial space.
Rollins & Rollins bought the properties nearly 40 years ago.
CBRE's John Hillman repped Rollins & Rollins. CBRE’s Greg Stanton assisted on the deal.
It is not clear what DLJ Real Estate plans to do with the property.
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