Assistant Director, Savills Studley
California Licensed Real Estate Salesperson
What was formerly a historic department store located in Downtown’s Financial District will now be renovated and re-branded into creative office. Originally constructed in 1917 as a Villa de Paris department store, the building is located at 712 Olive Street. Catacorner to the newly opened Nomad Hotel, this 101-year old structure, a 6-story building will feature approximately 160,000 square feet of creative office space. Slated to open later this year, it will offer a 10,000 SF jewel box penthouse for creative office users on the top 2 levels joined by interconnecting stairwells between the floors. The Penthouse level will also feature a massive outdoor amenity deck exclusive for the penthouse office user. There is also a large ground floor retail component as well as an adjacent 3-story building that ownership has acquired as well for additional retail opportunities. However, if an office user wanted the ground floor as creative office, that is an opportunity as well.
Architecture firm Rapt Studio has been engaged to design the project. They have created new on-site parking through an existing basement level as well as a second subterranean floor below the building.
Construction is underway and the renovation is slated for completion in summer 2018. Come check out DTLA’s newest creative office jewel box for yourself…
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