Lacy Street Studios Is Sold For $20M
The historic Columbia Mills Factory that has served as the site for Lacy Street Studios, where movies like "LA Confidential" and "Catch Me If You Can" were made, just sold for $20M, or $222/SF.
Buck Design, a production company, is the new owner of the nine-building, two-acre campus at 2626 Lacy St.
It is a record-breaking sale for Lincoln Heights, according to Investment Real Estate Associates partner William Everitt.
"Once one of the most popular neighborhoods in Los Angeles, Lincoln Heights has struggled to emerge in the revitalizing downtown area," Everitt said. "At $20M and a record $222/SF, the sale of the old Columbia Mills Factory signifies a major investment into the future of LA’s oldest neighborhood."
"Seabiscuit," “Cagney & Lacey” and “The Addams Family” were also filmed on the site, The Real Deal reports.
The property has potential for creative office, adaptive reuse and other development opportunities.
It also has courtyards, exposed brick walls, large industrial windows, loft spaces and exposed structural beams.
Everitt, Investment Real Estate Associates senior partner Chris Thompson and partner Clark Everitt, along with Partners Trust Commercial Senior Vice President Morgan McMullin, were the brokers.
