A mixed-use property located at 3880 North Mission Road in Los Angeles has been sold for $120,000,000. The asset spans 39 acres and encompasses 1,800,000 square feet, with a price per square foot set at $67. The site is notable for previously housing the Forever 21 headquarters.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $120,000,000
• Address: 3880 North Mission Road
• Market: Los Angeles
• Acres: 39
• Square Feet: 1,800,000
• Price Per Square Foot: $67
• Buyer: Jeff T. Blau - Related Companies
• Buyer: Ty Newland - Newland Capital Group
• Seller: Stephen A. Schwarzman - Blackstone
• Seller: Jeffrey Worthe - Worthe Real Estate Group
• Brokers: Barbara Perrier & Mike Longo - CBRE

The transaction involves key players in the real estate sector, with Related Fund Management and Newland Capital Group acquiring the asset. Their immediate plans include a significant redevelopment project titled Mission Crossing, which will feature the construction of a new industrial facility alongside extensive outdoor storage and a reimagined flex industrial building. This redevelopment is set to commence within two weeks with an expected completion date in July 2026.