The condo market may be wobbling, but here's a good sign for the downtown commercial market: Attorneys Brian Kabateck and Mark Geragos (yes, Michael Jackson's old lawyer) have shelled out $23.5 million for 7th Street's stunning Fine Arts Building, reports the Los Angeles Times. The 12-story beauty--which opened in 1926--will house the lawyers' firm on its top floor, while the rest of the space will be rented out to other office tenants (sounds like it's been empty for a bit). The Romanesque Revival edifice, complete will statues and terra cotta cladding, will also get a new, upscale ground-floor restaurant (the most recent eatery was a McDonald's). Other major commercial properties that have undergone upgrades include the Aon Center, the AT&T Tower, Manulife Plaza, and City National Plaza.
· Attorneys to do justice to fine arts building [LA Times]