Agora Partners & ASG Real Estate close on property in LA Bioscience Corridor
With a site-driven mindset, Agora Partners and ASG Real Estate recognized the potential of a 22,000 square foot warehouse building on the Alhambra Avenue corridor, in the northeast Los Angeles neighborhood of El Sereno. Located within the boundary of the Los Angeles Bioscience Corridor, and across the street from a popular independent community coffee and arts spot, the space is primed for adaptive reuse of the 80-year-old former furniture factory and warehouse.
Closing on the purchase of the warehouse and adjacent 5,000 square foot lot contributes to the burgeoning LA Bioscience Hub, which supports the development and growth of bioscience-related research, development and manufacturing enterprises.
The re-imagined double bow truss, high-ceiling space will become a home for emerging bioscience and tech companies seeking modern, flexible workspaces.
What's the LA Bioscience Corridor?
With support from the City and County of Los Angeles, the decade-long vision of the Los Angeles Bioscience Hub (LABH) was established in 2014 to promote the resources—space, network, community—needed for startups and early-stage companies to stay in LA, instead of leaving for other California science and tech communities.
The LA Bioscience Corridor weaves together key anchor institutions and companies within a 4-mile stretch of Northeast Los Angeles. The corridor runs along Valley Boulevard and Alhambra Avenue just east of Downtown LA. It starts at the intersection of the 5 and the 10 freeways, with two major anchors, LA County General Hospital and USC Health Sciences Campus, then continues northeast to include Cal State LA and BioSpaceLA (future LA County/Cal State LA Incubator). At the easternmost point, the corridor is bound by the U.S. headquarters for Grifols, an international pharmaceutical company, and the 710 freeway.
Agora Partners is a real estate development and investment firm specializing in identifying and creating value-add opportunities in urban environments throughout Southern California. ASG Real Estate Inc. ® is a full service investment brokerage and equity firm focused on urban repositioning real estate projects throughout California. As a partnership, Agora and ASG Real Estate focus on neighborhood-scale opportunistic investments by employing creative real estate tools and techniques to leverage neighborhood improvement strategies, unlock value, and improve local quality of life. Such as the site in El Sereno, the team evaluated the context of the Alhambra Avenue corridor and the surrounding residential neighborhood to determine the best uses for the properties.