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Kings of South Park Leasing Long-Vacant Desmond's Building

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Those kings of South Park, AEG—who own or run Staples Center, LA Live, and the LA Convention Center—have extended their reach a little further, signing a long-term lease for AEG Worldwide to take up residence in the historic Desmond's building at Eleventh and Hope, according to ever-trustworthy Brigham Yen. Built in 1916, the five-story Desmond's was a warehouse for the department store of the same name, and, before that, a sales center and showroom for Willys-Overland Motor Co. It had been vacant for many years by the time it was purchased in 2013 by Lincoln Property Company for $16 million.

Lincoln imagined the space as ideal for creative offices with street-level retail and a rooftop bar, and mocked up some renderings to inspire a tenant or tenants to move in (see the image above). Though there aren't any official details yet on the AEG deal, it appears the structure will become HQ for AEG Worldwide and that a sixth floor will be added on the roof (don't let those bar dreams die).
· Breaking: AEG Worldwide Has Leased Entire Desmond Building in Downtown LA [BY]
· South Park's Desmond's Warehouse Getting Offices, Retail, Bar [Curbed LA]