DTLA’s Historic Farmers & Merchants Building Sells for $8M

Buyer Main Street Trading Group, LLC has acquired DTLA’s historic Farmers & Merchants bank building for $8.2 million. Located at 401 S. Main St., the 16,446-square-foot office building was built in 1904, renovated numerous times through 2012, and has seen use for movie shoots, meetings and banquet space over the past 30 years.

Avison Young’s Patrick Barnes and Hayden Eaves represented the seller, an entity managed by Gilmore Associates, LLC. The buyer was advised by Lee Polster of EOP Realty.

The granite-clad building sits on 15-acres and includes 66 parking spaces in an adjacent parking structure. Design is in in an elegant neoclassical style by Morgan and Walls, one of the Los Angeles’ earliest and most distinguished architectural firms.

According to Barnes, “The buyer appreciated that it was procuring a piece of L.A. history and has an experienced team in place to realize the true potential of this trophy building.”

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