LOS ANGELES — February 12, 2013—CIM Group announced today that it has signed a 10-year lease for 7,500 square feet of ground floor space at 830 S. Flower Street in downtown Los Angeles with the Keck Medical Center of USC for a healthcare clinic and pharmacy. Operating as Keck Medical Center of USC – Downtown, the clinic provides downtown residents and employees with easy access to general and specialty medical care.
The historic six-story building which spans a city block from Flower Street to Hope Street was redeveloped by CIM and includes approximately 18,925 square feet of ground floor commercial space and 602 parking spaces, which serve neighboring residents as well as the general public. Also occupying the ground floor at 830 S. Flower Street is YAS Fitness, which operates a 3,000-square-foot workout studio. The building is adjacent to the Gas Company Lofts and Market Lofts, which were also redeveloped by CIM.
More than 10 years ago, CIM identified downtown Los Angeles as possessing the attributes that fit its investment discipline, which focuses on established and emerging urban areas with solid infrastructure and transportation. CIM was among the first real estate investment companies to convert older, vacant warehouses and office buildings into residences under the Los Angeles Adaptive Reuse Ordinance, a major driver of the revitalization of downtown Los Angeles. CIM also brought the first full-service grocery store to downtown Los Angeles in more than 50 years with the opening of Ralphs at Market Lofts in July 2007.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com