The site of popular USC hangout 901 Bar & Grill has been sold, and the deal might portend changes coming to the corner of South Figueroa and 30th streets.
A venture formed by Jade Enterprises, a downtown L.A. real estate investment and development firm run by Brian and Jacob Taban, purchased the site, which also includes a Carl’s Jr. and an El Pollo Loco, from a limited liability entity formed by Darryl Holter, chief executive of Downtown L.A. Motors Group. The Holter family had owned the property since 1971. Terms of the deal were not disclosed.
The principals of Jade declined to discuss the purchase, but the site is in the path of a great deal of redevelopment as older properties give way to projects mixing retail and student housing, said Chris Caras, a senior vice president with CBRE Group Inc., who represented the seller.
There are no plans right now for redevelopment, Caras said, “but one would think (the property) would not stay that way forever, based on what’s happening.”
For reprint and licensing requests for this article, CLICK HERE.