Lucky Brand Renews Lease for $4M in DTLA
Savills Studley represented the tenant in the deal. Lucky Brand has renewed its lease at Factory Place for five years for a total of 25,000 square feet.
By Evelyn Jozsa
1245 Factory Place
Lucky Brand has inked a five-year lease renewal at Factory Place, a 25,000-square-foot office in downtown Los Angeles, for approximately $4 million. The firm has occupied the space since 2014 , using the facility to house its garment manufacturing operations. Savills Studley worked on behalf of the tenant in the transaction.
Located at 1245 Factory Place, the office is a two-story building that’s centrally located in the Arts District of downtown Los Angeles, across the street from Factory Place Arts Complex. The asset occupies a 33,846-square-foot fenced parcel with abundant parking. The area is surrounded by artist live and work lofts, restaurants and entertainment venues. The company’s 50,576-square-foot headquarters is located at 540 Santa Fe Ave., only two blocks away from the property.
“The location is in close proximity to Lucky Brand’s headquarters and, reflecting the company’s long-standing commitment to the area and excellent landlord relationship, we were able to negotiate very favorable lease renewal terms,” said Bart Pucci, senior managing director at Savills Studley, in prepared remarks.
Image courtesy of Savills Studley
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