|
|
Article: Toy companies animate industrial sector in eastern downtown L.A. (Toy Town district, Los Angeles, California)(Special Report: Real Estate)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 24, 1995
- Author:
CopyrightCOPYRIGHT 1995 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Downtown's Toy Town district does not look like a hot real estate market upon casual observation. Visitors to the area - which is roughly bounded by Third, San Pedro, Fifth and Los Angeles streets - often find themselves stepping gingerly over homeless people stretched out on the sidewalk. Others are greeted by panhandlers.
"When I go there, very often somebody will ask me for some money to guard my car. Often, I give them the money, because I need my car," said Arnold Luster, president of Major Properties Inc., a Los Angeles-based industrial real estate brokerage.
Notwithstanding, Toy Town is arguably the hottest and fastest-growing industrial real estate ...