The empty Desmond's warehouse in South Park will become creative office space with possible groundfloor retail and a rooftop bar, the LA Times reports. The 1916 building, located near the relatively-new mixed-use towers developed by the South Group (Evo, Elleven), started out as a giant sales center for Willys-Overland Motor Co. before Desmond's department store bought it and turned it into a warehouse--hence the name on top of the five-story building. Lincoln Property, some of the guys behind the giant Playa Vista planned community, are spending $9 million to turn Desmond's into airy office space for creative companies--the same kind of techie businesses they successfully lured to Playa--and to add space for restaurants and showrooms. "The fact that you can get higher rent for creative offices than for high-rises is an indication of demand," said the agent who handled the sale. Lincoln bought Desmond's from developer Evoq (née Meruelo Maddox) for $16.25 million. Evoq initially had their own plans for Desmond's, but, after a bankruptcy and fire sale, decided to focus on their Alameda Square project (home to American Apparel), which will have its own creative offices.
· Former Desmond's downtown warehouse to become creative offices [LA Times]