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DTLA Construction, Investment March Forward

As the pandemic put much of America’s economies on hold for the better part of the year, real estate investment and construction in Downtown Los Angeles (DTLA) continues to march forward, according to the Downtown Center Business Improvement District’s (DCBID) newly released DTLA 2020 Year-End Market Report.

From Related Company’s billion-dollar mixed-use project, The Grand, to luxury high-rise apartment towers from Brookfield Properties and Mitsui Fudosan, to signature hotels from Lightstone Group and CitizenM, large-scale construction was a bright spot in DTLA’s 2020 economy. And the 10 largest developments currently under construction have a combined estimated value in excess of $3 billion.

While the pandemic dimmed most other economic activity, DTLA had some notable investment sales in 2020 including Silverstein Properties’ purchase of US Bank Tower for $430 million, the sale of 915 Wilshire for $196 million to German investors, and Avalon Bay Communities’ purchase of the Showa Marine Cold Storage site in the Arts District.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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