Food court fever keeps spreading, this time to Costa Mesa. The new owners of the former Los Angeles Times Plant have ambitious plans to convert the facility into a mixed-use space with offices, retail, and a food hall.
First mentioned by the LA Times, SteelWave LLC and Investco Real Estate acquired the property this month for $65 million. First open in the 1960s, the LA Times and their OC publication the Daily Pilot closed the plant and moved their offices to Fountain Valley, leaving the plant empty since 2014.
There is no timeline set for converting the 420,000 square foot space. The addition of a food hall will be welcome to an area lacking in dining options. Steelwave is partnering with global real estate investment managing company Invesco, and plans to invest $100 million into revitalizing the building.
Jonathan Hastanan, SteelWave’s vice president of acquisitions and development shared in a statement with LA Times that “this will be an iconic project that pays tribute to the history of the building by embracing its character, making it unique to the region.”