Market Lofts Sold

Today, the CIM Group, one of the first developers to capitalize on the Los Angeles Adaptive Reuse Ordinance of 1999, announced that it has sold the Market Lofts, located on 9th Street, between Hope and Flower.  The 55,000 square foot property houses 267 condominiums, over 6 retail spaces, and a Ralphs Supermarket.  For many, this sale marks a turning point for the Los Angeles economy, and signals a symbolic end to the recession that has plagued the downtown real estate market for the past five years.