A new joint venture partnership New York-based LIVWRK and Daniel Kotzer of Los Angeles will soon begin an adaptive reuse plan that will transform a historic 63,100-sq. ft. property in Los Angeles’ Arts District into what broker Cushman & Wakefield describes as a “modern, Class-A office and lifestyle project.”
The partnership recently acquired the two-building asset located at 800-810 Traction Ave. for approximately $20 million and will soon be making significant capital interior and exterior improvements to the multistory buildings, the broker said in a Sept. 28 statement.
AtTraction, the project’s new identity, originally housed the Joannes Brothers Company, a coffee, tea, and spice processor and wholesaler, followed in the mid 1950s by the Los Angeles Desk Company.
Construction on the renovations began the week of Sept. 27, with an estimated completion date scheduled for early 2023.
The completed 800 Traction structure will be a five-story building plus a basement totaling 53,400 sq. ft. Next door, 810 Traction will comprise a 2-story building plus basement totaling 9,700 sf. Each building will also offer the potential for ground-level retail.
The new ownership plans to upgrade the exterior façade and entrance/storefront of both buildings. Another significant new feature to the property will be the addition of a rooftop patio deck on the top of the 800 Traction building. 810 Traction will also have a private gated patio space.