1242 Palmetto St, Los Angeles, CA 90013

Cushman & Wakefield U.S., Inc., as the exclusive advisor, is pleased to present the opportunity to acquire the leased fee interest in 1242 Palmetto Street, a premier creative flex property located in the heart of the Arts District in Downtown Los Angeles. This fully leased asset consists of a sandblasted brick and bow-truss ceiling building spanning ± 21,331 square feet, all on the ground floor of a 0.53-acre lot. With dual street frontage on both Factory Place and Palmetto Street, the property benefits from excellent accessibility and visibility.

The building's architectural character is defined by exposed brick walls and soaring bow-truss ceilings that reach up to 25 feet, with 15 feet of clear height. The property also offers ground-level pedestrian doors and vehicle garage doors at both the front and rear of the building.

1242 Palmetto is fully leased to Carbon Capture through January 2028, with the tenant recently renewing its lease, demonstrating a long-term commitment, to the space. With approximately three years remaining on the lease term, a future owner-user could capitalize on the in-place income while planning for occupancy in 2028. The property’s prime location in the Arts District places it at the center of one of Los Angeles’ most dynamic and rapidly evolving neighborhoods, surrounded by major creative and technology companies including Apple, Adidas, Spotify, Sony, Honey, and Warner Music.

Situated next door to the At Mateo complex, which houses Spotify and renowned restaurant Girl & the Goat, the property is also across the street from the Barker and Molino Lofts. Just around the corner, the recently completed Alloy project introduces high-rise luxury apartments to the area.

Designed as a versatile creative flex property, 1242 Palmetto is well-suited for a wide range of office and industrial users. This offering presents a rare opportunity to acquire a stabilized asset in an A+ location with long-term upside in one of Los Angeles’ most sought-after neighborhoods.