Atlas Capital pays $240M for LA Times’ printing plant in Downtown

first_imgAtlas Capital bought the Los Angeles Times’ massive printing plant from a Harridge Capital partnership (Credit: iStock and the Los Angeles Times)Atlas Capital Group has purchased the Los Angeles Times’ printing plant in Downtown for $240 million.The building contains about 660,000 square feet of manufacturing and distribution space, along with about 15 acres of open space mainly used for loading trucks and parking.The seller was a partnership led by Harridge Development Group, according to the Times. The entire site spans 26 acres on Olympic Boulevard alongside the Santa Monica freeway, and Harridge purchased the plant three years ago for $120 million, and property values in the neighborhood have increased since then.ADVERTISEMENTAtlas and its partners are developing the Row DTLA just a few blocks away, turning 2 million square feet of warehouse space into a complex of stores, restaurants and offices. The company also just went into contract in Manhattan to buy an 80,000-square-foot commercial building at 110 Leroy Street for $79.5 million earlier.The Times built its printing plant in the late 1980s and became a tenant in the property after its former owner Tribune Co. filed for Chapter 11 bankruptcy. Its lease expires in 2023. Atlas’ plans for the printing plant are unclear, but several options have been floated in recent years, including a basketball arena, a residential development and creative office space, according to the Times.Harridge is the developer behind the Crossroads of the World megaproject, a $1 billion project in Hollywood that is expected to feature 950 apartments and condos, a hotel, and 190,000 square feet of commercial space. [LA Times] — Eddie Small This content is for subscribers only.Subscribe Nowlast_img read more

Sania-Martina in China Open quarters, Bopanna, Paes lose

first_imgThe Indo-Swiss tennis combine of Sania Mirza and Martina Hingis earned a hard-fought victory to move into the women’s doubles quarterfinals of the China Open, being played on the hard courts of the Beijing Olympic Green Tennis Center here on Wednesday.The top seeds took an hour and 17 minutes to edge past experienced Italian pair of Sara Errani and Flavia Pennetta 1-6, 6-4, 10-6. This is the second victory in as many meetings for the Indo-Swiss pair over their opponents, having beaten the Italians in New York earlier this year.But it was the end of the road for Rohan Bopanna, who with American partner John Isner, lost his men’s doubles first round in straight sets to Uruguayan-Serbian pairing of Pablo Cuevas and Viktor Troicki. The winners took just 54 minutes to easily beat Bopanna and Isner 6-4, 6-3.Sania and Martina were shocked in the first set as their service games were broken thrice. To add to that, they double faulted twice, giving easy points to the Italian pair and losing the set in a jiffy. They looked totally out of rhythm and could not even earn a single breakpoint chance.However, they fought back in the second set when they broke Sara and Flavia twice, once more than the Italians did, which was enough to win the set and push the match into the decider.The reigning Wimbledon and US Open champions proved just a tad bit better in the super tie-break to clinch the match and enter the last eight.advertisementThey will next take on German-Czech pairing of Julia Goerges and Karolina Pliskova for a place in the semis.Leander Paes, with Australia’s John Peers, had too lost his opener on Tuesday when the pair went down to Canadian-French fourth seeds Daniel Nestor and Edouard Roger-Vasselin 6-7(1), 6-4, 9-11.last_img read more