Cushman & Wakefield has been retained to market the foreclosure sale of AtTraction, a historic 58,118-square-foot historic, adaptive reuse asset located in two buildings at 800-810 Traction Ave. in Los Angeles’s Arts District. The property is being sold through the site’s former lender and now current owner.

A Cushman & Wakefield team comprising Mike Condon Jr. and Erica Finck are representing the seller. The building had originally housed the Joannes Brothers Company, a coffee, tea, and spice processor and wholesaler, followed in the mid 1950s by the Los Angeles Desk Company. The previous ownership had acquired the property in 2021 and was deep into an adaptive reuse plan .

“Aside from the real estate being objectively one of the best assets in the market, the deal structure offering an opportunity to buy the Arts District’s crown jewel at a basis comparable to the former lender’s, combined with the optionality for seller financing, creates a one-of-a-kind buying opportunity for an investor or user,” said Condon. “Finally, the buyer can benefit from finalizing a redevelopment of the project on third base, given millions of dollars have already been spent on many of the base building elements to date, creating substantial additional value.”

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