The Arts District may have already reached the gentrification tipping point with the community bitching over high-end pot shops and fancy new developments, and its hotness shows no signs of letting up. Take, for example, the recent all-cash sale of the Coca-Cola building on Fourth Street for $19 million; it's the largest real estate transaction in the Arts District in three years, according to the Los Angeles Business Journal. New owner Atlas LA 4th St. LLC plans to repurpose the three-story factory into creative office space and a groundfloor restaurant (similar to what's happening at the old Desmond's warehouse in South Park). The 123,600-square-foot facility was built in 1915 and served as Coke's SoCal production facility until 1929, when the operation moved to Central Avenue. Last occupied by a toy company, the SCI-Arc-adjacent building is now abandoned. A few blocks away, a San Francisco company is close to paying $37 million for the former Ford Motor Co. building, with similar adaptive reuse plans gleaming in their eyes.
· Investors Bottle Up Former Coca-Cola Building [LABJ]