Could there be a new boutique hotel coming to Los Angeles in the future?
A 13-story building in Los Angeles that has been “mostly empty” for at least two decades is on the market and attracting buyers. The Commercial Exchange Building, an office building built in the 1920s, is listed at $14 million. Commercial real estate around the Staples Center and the L.A. Convention Center is making a comeback with all of the construction happening in the area.
The Los Angeles Times reports that more than 1,000 new apartment units will be raised over the next 30-month period. One of the largest planned housing and retail projects will be built across the street from the Commercial Exchange Building.
That area of downtown fell out of favor in the decades afterWorld War II as department stores followed their customers to the suburbs and white-collar businesses moved to newer offices closer to the 110 Freeway.