Bridge Development Partners Nabs DTLA Industrial Property

Bridge Development Partners has shelled out $68 million to Atlas Capital for a 261,528-square-foot one-story industrial property known as The Box Yard, at 2445 East 12th Street in Downtown Los Angeles, according to a release from Bridge.

Mike Smith and Jim Halferty of Lee & Associates represented both sides in the transaction and will act as listing agents for the property, located on 7.54 acres close to the Arts District. Smith and Halferty did not respond to a request for comment as of publication.

The area has become the epicenter of former industrial properties being readapted into creative office and mixed-use developments aimed at high-profile tenants, including the Ford Factory Building, where Warner Music Group will be moving from Burbank and At Mateo, where Spotify will be relocating its regional headquarters, as Commercial Observer previously reported.