The Wilshire Grand Hotel closed Dec. 23 to make way for a new development but is now open as its owner attempts to sell as many appliances and accessories as possible in the coming weeks before the wrecking ball arrives.
DOWNTOWN LOS ANGELES (KABC) — A massive liquidation sale is under way at the iconic Wilshire Grand Hotel in downtown Los Angeles. The hotel is set to be demolished this summer, so everything must go, from furniture to kitchen sinks to pianos.
In preparation for the start of demolition this summer of the now-closed 936-room Wilshire Grand Hotel in downtown Los Angeles, the hotel will reopen its doors Thursday for the start of a massive sale of its furniture, plates, towels and television sets, among thousands of items in the building.
The Wilshire Grand, once the Hotel Statler, is being liquidated (Vintage postcard) The Wilshire Grand Hotel closed its doors for good at the end of December, but before the walls come tumbling down to make way for a swanky high rise, all of the facility’s furnishings are up for grabs.
Jobless Americans are using increased tourism as a pathway back to employment, finding jobs at hotels and motels as those facilities step up hiring to meet growing demand.
Veteran developer Robert Maguire is teaming up with L.A. Live developer AEG to look into building what would be downtown L.A.’s first new office high-rise since the 1990s.
Korean Air’s Wilshire Grand hotel project was recently downsized from two skyscrapers to one, ditching a planned office tower because Downtown’s hotel demand is outstripping the office market (or so they tell us). But an interesting tidbit about the project, which will result in the hotel’s current mid-century incarnation being torn down this summer, is that the new building could rise to 80 stories, according to the Los Angeles Business Journal’s story [sub. req.] on the new plans. The Downtown News updated their Wilshire Grand piece from last month to address the possibility, writing that, “while specifications for the single tower are still under study…it would be closer in height to the approved phase two office building. That structure was most recently imagined as a 60-story tower, but the entitlements would allow for a building of 1,250 feet in height, or 75-80 stories. If Korean Air built the tower as tall as its approvals allow, it would surpass the US Bank Tower as the tallest building west of the Mississippi River.”
Lincoln Properties has agreed to buy Wedbush Center in downtown Los Angeles for $130 million, or $283 per square foot. Jones Lang LaSalle handled the sale on behalf of a partnership between Lehman Brothers and New York-based Broadway Partners.