FAMSA, the furniture and electronics retailer, will open its doors at the Downtown location in April. The facility, which stands at the northeast corner of Broadway and Washington, encompasses 49,000 sf.
The Downtown site is one of 14 stores that FAMSA is planning to open in the Southern California region. According to a NewMark spokesperson, the retailer has chosen this location because of the purchasing power of Latinos in Downtown Los Angeles, which the company says is a market second in size only to Mexico City.
The seller, a private partnership of Richard Perelman and Arleen Burton, were represented by Bart Pucci of Grubb & Ellis. A team of Sandy Sigal and Brad Pearl represented NewMark Merrill. FAMSA was represented by Jose Legaspi of The Legaspi Co. and Bob Peninado of Chesterton Blumenauer Binswanger.
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