Grand Central Square is a 300,000 square foot mixed-use project located in the heart of downtown Los Angeles with its burgeoning residential population. Celebrating the cuisines and cultures of Los Angeles, the iconic Grand Central Market, founded in 1917, has evolved into a national-caliber eating experience to showcase the best local chefs, purveyors, and entrepreneurs. The property includes the landmark Grand Central Market, 121 apartments, retail, office, a parking garage and the Million Dollar Theater. The Grand Central Market is an open style market that has served local residents and tourists alike since 1917. The Million Dollar Theater was built in 1918 and was one of the first movie houses in downtown Los Angeles. Grand Central Square is the gateway to the historically significant downtown Broadway corridor.
RM/d was retained as the asset manager, leasing agent and property manager for this icon in Downtown Los Angeles. We created a strategy to reposition the Grand Central Square as a premier Los Angeles destination for residents and tourists to dine, shop and live in an authentic urban setting. RM/d conducted a thorough review of operations, studied the market dynamics and ultimately developed a three phase business plan to reduce expenses, increase revenue and ultimately redevelop the project to maximize value. This plan was executed by the RM/d team resulting in a dramatic increase in value.