The Depot Creative Campus Gets $54M in Construction Financing

Upon completion, The Depot, a 107,199-square-foot 1.5 acre creative office campus in the West Adams micro market of Los Angeles, will offer a standalone campus with three levels of outdoor space totaling more than 20,000 square feet, a 225-space subterranean parking garage, 15-foot ceiling heights, and steel and glass construction with 30-foot bays.

Senior and mezzanine construction financing totaling $54.73 million was recently obtained for the development of The Depot. JLL worked on behalf of the developer, The Luzzatto Company, to secure a $28 million senior loan through Bank OZK and a $26.725 million mezzanine loan through Related Fund Management. The JLL team was led by Paul Brindley, Jeff Sause and Spencer Richley.

“The Luzzatto Company is one of the most highly respected and successful local developers in Los Angeles and was a pioneer in the creative office movement from the beginning,” says Sause. “Designed by HLW, an internationally acclaimed architecture firm, The Depot will follow in the footsteps of Luzzatto’s numerous other developments in the immediate area including the GOAT headquarters and the Sweetgreen headquarters, among others, which have all been completed and pre-leased by Luzzatto in the last three years.”

The Depot is located two blocks from the intersection of the city’s two major transit lines, the Blue Line and the Crenshaw/LAX line. The campus is also part of a qualified opportunity zone.