AEG Inks Downtown Office Lease

LOS ANGELES—AEG has signed a lease with Lincoln Property Co. for the Desmond Building, an 82,000-square-foot office building in the South Park neighborhood of Downtown Los Angeles. The location will serve as the headquarters of AEG’s ticketing and live entertainment divisions, AXS Ticketing.

Lincoln Property Co. purchased the property in March 2013. Built in 1916, the property most recently severed as the warehouse of Desmond’s department store. Lincoln Property plans to renovate the warehouse into a creative office space with a ground floor cafe. The renovation includes the addition of a 7,000-square-foot sixth floor that brings the square footage up to 82,000 square feet, and a seismic retrofit and upgrades that will both maintain the historic appearance of the building and make it safer for earthquakes. Construction will take place soon, and will be completed in April 2015 when AEG will take occupancy.