Old Coca-Cola Building in L.A. to Be Refreshed as Plush Office Complex
A century-old Coca-Cola manufacturing plant in a formerly run-down section of downtown Los Angeles is about to pop as a plush new office and retail complex.
The elaborate makeover of the three-story brick-clad building most recently used as a toy business warehouse underscores the rising demand for nonconventional office space and the emergence of the Arts District as a desirable neighborhood for residents and white-collar businesses.
Rents at the complex called Fourth & Traction are expected to easily surpass those charged by landlords of many of downtown’s most prominent skyscrapers as growing firms in such fields as technology, entertainment and fashion continue to seek out offices that aren’t meant to cater to staid corporate tastes.
In a show of confidence in the so-called creative office market, the developers paid $19 million for the old soft-drink facility and plan to spend at least an additional $15 million in an effort to make it into a well-appointed showplace with a historic vibe.
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