Los Angeles real estate investment firm The Luzzato Company has secured a $48.7-million construction loan to build a new office complex near Metro's Expo/Crenshaw Station.
The financing, announced last week by JLL Capital Markets, will go toward Luzzatto's Exposition 3 development - slated to rise from an industrial-zoned site at 3101 W. Exposition Boulevard. A full buildout of the project will result in more than 94,000 square feet of space.
HLW International is designing the office complex, which will include a new four-story building and underground parking.
Completion is anticipated in 2022.
Past reports have indicated that fast-casual restaurant chain Sweetgreen has leased the property to serve as its new headquarters. The company is currently based out of Culver City.
The project joins a handful of projects currently in development near Expo/Crenshaw Station, sits near the boundaries of the Jefferson Park, West Adams, and Baldwin Hills communities.
South across the Metro tracks, construction is now in progress for a new townhome development from Olson Homes.
To the west at Crenshaw Boulevard, CIM Group is planning to redevelop a surface parking lot with a similar office complex.
- 3101 W Exposition Boulevard (Urbanize LA)