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Former May Co. building in downtown L.A. is sold for $130 million
Former May Co. building in downtown L.A. is sold for $130 million

A huge, run-down former department store on Broadway in downtown Los Angeles has been acquired for about $130 million by New York investors who intend to bring the old May Co. flagship back to prominence as a shopping and office complex. Many old buildings have been renovated during downtown's renaissance over the last several years. But at almost 1.1 million square feet the May Co. building, now known as the Broadway Trade Center, is a whale among minnows. If it can attract the tenants its new owners want, the complex would become one of the largest single tech centers in the country. "They're building a creative campus using the high-end Chelsea Market in New York as...

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