Foreclosed DTLA Offices Will Serve as New Owner’s Headquarters

Lee & Associates finalized the $18-million sale of a four-story, 86,459-square-foot building at 777 E. 10th Street in Los Angeles. The seller foreclosed upon the property in February of 2022.

Matthew Sullivan, managing broker of Lee & Associates Investment Services Group, represented the seller in the transaction, CSAIL 2015-C1 Commercial Mortgage Trust. Jim Halferty and Mike Smith of the Lee & Associates Commerce office represented the buyer, Very J, Inc.

The property was 43% occupied at closing and the buyer will occupy several floors of the property as their corporate headquarters. Built in 2009, 10 Crowne Wholesale Center is located between Crocker Street and Towne Avenue in the Los Angeles downtown fashion district.