Serge Azria, founder the popular women's clothing lines Joie, Current/Elliott and Equipment, has purchased a two-building site near downtown Los Angeles that will permit him to grow his operations.
Azria bought two buildings for $7.75 million at 5251 Santa Fe Ave., in Vernon, real estate brokerage Colliers International said. The site is across the street from Azria's current headquarters.
The larger of the two buildings will house the company's expanded corporate headquarters, a design studio and some warehousing space, said real estate broker Will Smith of Colliers, who represented Azria in the transaction.
The smaller, free-standing building will be used as a retail store, Smith said. The seller was a limited liability company called Blue Banner.
The newly acquired buildings total approximately 73,000 square feet in all, a 60,000-square-foot, three-story office building completed in the 1940s and a 13,000-square-foot, two-story building.
Azria is considered a leader in what is known in the fashion industry's "new contemporary luxury" segment. He is the creative force behind all of his lines, according to fashion industry sources.