Good morning, it’s Tuesday, and you can expect yet another humid, partly cloudy day before temps rise again midweek.
The investors behind Grand Central Market are betting on El Sereno.
Last week, my colleague Antonia Cereijido got a tip about an under-the-radar real estate play in El Sereno: Langdon Street Capital — the real estate firm that owns Grand Central Market — was buying up property on Huntington Drive, her tipster said.
A quick browse through property records and business filings confirmed that, indeed, the Beverly Hills-based firm has nabbed six parcels on the commercial corridor over the last two years.
The purchases by Langdon highlight the changing character of the majority-Latino neighborhood where at least some residents have raised alarms about gentrification. But to others, the new businesses are a welcome change.
Read our story for more details about Langdon’s under-the-radar acquisitions — including the always-mobbed Echo Park cafe that’s slated to move into one of the new storefronts.
READING MATERIAL
IN CASE YOU MISSED IT: L.A. Material’s Julia Wick has a fascinating look at the slow-motion disaster that led to the complete cancellation of L.A.’s inaugural Jazz Festival.
HAHAHA: A company called Median Strategies duped both Karen Bass’ campaign and the California Post into resharing a bogus poll that claimed Bass was leading Nithya Raman by a wide margin, the L.A. Times reported.
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