Learn about Los Angeles’s new Green Street Building.
In downtown Los Angeles, a new seven-story building located in the Jewelry District will open up to tenants who all work in the cannabis industry. The new development, named Green Street Building, will house several different businesses from an art gallery to a law firm to a luxury spa all dedicated to or making use of cannabis in some way.
According to Matthew Rosenburg, CEO and founder of M-Rad, Inc, the design team behind the project, “The companies who are part of the building are some of the biggest players in the industry, which will bring in high-level clientele and investors who may feel encouraged to invest in the development of the area. The building itself will host a number of cannabis-related programs such as cultural activities and gastronomic experiences which will attract new clientele.”
The opening of the Green Street Building is expected to spark a major revitalization of the area. While the typical model for neighborhood revitalization happens slowly as new retail spaces open one at a time, the Green Street model is different. With a chunk of companies and businesses coming to the neighborhood all at once, the resurgence of this area is expected to proceed more rapidly. In fact, experts contend that the Jewelry District could become a major commercial and residential force in a matter of months.
This is how Los Angeles’s Green Street Building and the cannabis industry as a whole could accelerate real estate revitalization of different areas. Do you have further questions regarding the cannabis industry and commercial real estate? If so, then contact the experts at California Commercial Realty Advisors, Inc. We are ready to assist you with all your commercial and industrial real estate needs today.
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