Erewhon-linked company buys DTLA property at 940 S. Hill St.
For weeks, rumors have swirled that Erewhon - regarded as L.A.'s most expensive grocer - has scooped up a property in Downtown Los Angeles with the aim of opening a new store. While the purpose of that purchase remains to be seen, property records indicate that an entity affiliated with the ultra-high market has shelled out $13.5 million to acquire a long-vacant commercial building.
As reported by DTLA Insider, the property at 940 S. Hill Street (located at the street's northeast corner with Olympic Boulevard) sold in late June to a company located at 1800 E. Martin Luther King Jr. Boulevard in Vernon, which is listed as Erewhon's headquarters. The entity listed as the buyer - 755 Sarbonne Rd, LLC - is managed by Mariano Antoci, the chief executive officer of Erewhon.
An inquiry to Erewhon seeking clarification on their plans for the building was not answered by the time of publication.
The property, a single-story structure with 24,432 square feet of floor area, is a nondescript presence in a part of Downtown Los Angeles that has been transformed by development in recent decades. Numerous blocks to the west east have been redeveloped with thousands of apartments and hotel rooms, while residential towers built by Onni Group sit to the north and south of the property along Hill Street.
The property at 940 S. Hill Street was once slated to partake in Downtown's most recent development boom. A 20-story apartment tower was proposed for the site in 2015, and approvals granted by the City of Los Angeles in 2018 remain active. However, chances of that project ever seeing fruition were dashed when the project's developer Dae Yong Lee was accused of bribing disgraced former City Councilman Jose Huizar to ensure approval of the tower.