Maxxam Enterprises has multiple projects totaling over 200,000 square feet throughout the Fashion District of downtown Los Angeles.
Maxxam Enterprises Principal Mehdi Soroudi said “The Fashion District is one of Downtown’s most economically and culturally vibrant centers, where there is pent up demand from garment businesses for new wholesale and retail showroom locations, along with office space. Our company’s efforts to redevelop many underutilized properties are helping to draw tenants east of San Pedro Boulevard, solidifying the geographic expansion of Los Angeles’ fashion core.”
1025 Towne Center – The 50,000 square foot wholesale center just opened. The repositioning included adding parking ramps, elevator service, and subdividing the ground floor into 14 storefronts, each with its own private mezzanine. There was strong demand in pre-lease during construction. The property was acquired in March 2005 and was formerly a warehouse and manufacturing facility.
Maxxam specializes in value-add opportunities through redevelopment or repositioning assets like 1025 Towne Center. “We realized the potential of this property could be unlocked by converting the old industrial warehouse into more valuable uses. By investing in structural upgrades to the building, as well as a complete facelift of the façade, we succeeded in increasing the value of the property tremendously,” added Soroudi.
Crocker Fashion Plaza, Phase 2 – Scheduled for completion in summer 2008, the property will have 18 ground-floor showrooms and 21,000 square feet of office space. The project included demolishing the existing structure and building from the ground up.
777 12th Street – 60,000 square foot wholesale center. The property has a distinctive architectural design and has space for stores and wholesale showrooms on the ground and mezzanine level. Pacific City Bank opened on the second floor. There is plenty of parking on-site as well, which is highly desirable by businesses and customers who frequent the area.
Crocker Fashion Plaza, Phase 1 – This 18,000 square feet property was converted from a manufacturing plaza into 10 wholesale storefronts with new facades along Ducasse Alley. The building is 100% occupied.
12th Street Fashion Plaza – The 42,000 square foot wholesale and mixed-use office center located at 12 St. and Crocker St. can be easily identified by the distinctive lips sculpture on the top of the structure. The ground and mezzanine levels service boutique stores specializing in women’s fashion and apparel, while Innovative Bank is the penthouse tenant.