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California  + Los Angeles  + Retail  | 

DTLA’s Grand Central Market Sold

Grand Central Square, a package of DTLA properties totaling 400,000 square feet of space that includes the iconic Grand Central Market, historic Million Dollar Theatre, the Grand Central Square Apartments, the Grand Central Parking Structure, and other assets, has traded hands. Beverly Hills-based Langdon Street Capital purchased the assets from Grand Central Square Partnership, a group formed by Ira Yellin and now controlled by his widow, Adele Yellin.

The new owners say they plan to invest in the 100-year-old property including enhancements to the market, at 317 S. Broadway, as well as updating the hospitality experience, though they envision retaining the property’s historic character.

Passman Group’s David Passman represented the buyer. Monkeyfoot International’s Christophe Farber advised the seller. The purchase price was not disclosed.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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