Lucky Brand renews lease at 1245 Factory Place in DTLA

02 November 2017

Lucky Brand, an American denim company, has renewed its lease at 1245 Factory Place in Downtown Los Angeles’ Arts District. The company has occupied 25,000 square feet in the freestanding, two-story industrial building since 2014 for its garment manufacturing operations. The five-year renewal is valued at approximately $4 million.

Bart Pucci, Senior Managing Director in the Los Angeles office of Savills Studley and a member of the firm’s Industrial Services Group, represented the tenant in the transaction.

“The location is in close proximity to Lucky Brand’s headquarters and, reflecting the company’s long-standing commitment to the area and excellent landlord relationship, we were able to negotiate very favorable lease renewal terms,” said Pucci. 

The company’s 50,576-square-foot headquarters is located at 540 Santa Fe Avenue, two blocks away. Pucci also represented Lucky in identifying this opportunity and negotiating the build-to-suit of the creative office building approximately eight years ago. Lucky was one of the first major brands to commit to DTLA’s Arts District, helping to advance the area’s renaissance. 

The Arts District is a vibrant Downtown Los Angeles neighborhood, filled with spacious artist live/work lofts, trendy restaurants and live entertainment venues. It is a community on the rise and recent developments have swelled the population, bringing new residents, many of whom are young professionals, to the area. They reside alongside veteran occupants and still-functioning businesses.

 
 

Key Contacts

Carol McNerney

Carol McNerney

Senior Vice President, Business Development

Savills Studley - New York