By Evelyn Jozsa
Maple DTLA LLC, an apparel company and investor, has acquired the Rosenthal Property Portfolio, a 102,859-square-foot industrial facility in Los Angeles, for $15.5 million. Kidder Mathews represented the seller, Rosenthal Property Owners and the buyer was represented by The Quantum Associates.
The manufacturing buildings are located in East Los Angeles/Boyle Heights area at 2736 E. 12th St., 3028 E. 11th St. and 3101, 3109, 3115 E. 12th St., close to major thoroughfares, including interstates 5 and 10. The area is a landing spot for the industries that are pushed out of the Art’s District because of redevelopment projects and higher-end uses occupying the area. The traditional manufacturing properties in the Los Angeles/ Boyle Heights area are also refurbished into high-end apparel fashion buildings.
“Through our unique marketing platform, we were able to generate multiple offers for this project, resulting in a managed bid process,” said Jon Reno, senior vice president at Kidder Mathews, in prepared remarks. “This transaction confirms the high demand for older, functionally challenged industrial properties with upside potential and proximity to downtown Los Angeles.”
Reno, together with Robert Thornburg, Tom Holland and Trevor Gale of Kidder Mathews represented the seller and Iqbal Hassan of The Quantum Associates worked on behalf of the buyer.
Image courtesy of Kidder Mathews