Lonzo Ball appears to be getting his business affairs in order as he prepares for a move to New Orleans.
A limited liability company tied to the former Lakers point guard, who was traded to the Pelicans this offseason in the blockbuster deal for Anthony Davis, has sold a commercial property in downtown Los Angeles for a little over $4.265 million, public records show.
The same corporate entity — Family Always Matters — bought the industrial warehouse in 2017 for $3.5 million.
The 14,635-square-foot building was used as a distribution center for Big Baller Brand, a clothing and footwear company launched in 2016 by Ball’s father, LaVar Ball. Lonzo Ball is a majority owner in the apparel company, which produces his $495 Z02 basketball shoe.
The warehouse was previously featured in the Ball family Facebook series “Ball in the Family.” It includes 8,085 square feet of office space and 24 parking spaces.
The sale, which recorded earlier this month, comes roughly four months after Ball severed ties with Gregory Alan Foster, a part owner of Big Baller Brand, over concerns that Foster took $1.5 million from the basketball player’s personal and business accounts. Big Baller Brand and Ball are suing Foster for fraud and are seeking to recoup more than $2 million in damages.
Even without the financial drama, Big Baller Brand has struggled to find a foothold in a competitive basketball apparel market. Long delays in fulfilling online orders and numerous complaints led to an investigation of the company in 2017 by the Better Business Bureau. Last year, the bureau gave Big Baller Brand a failing grade.
The Big Baller Brand distribution center has since been moved to another location, according to USA Today.
Ikem Chukumerije of WPE Partners Commercial was the listing agent for the warehouse, according to real estate records. Jay Chang of North American Properties represented the buyer, Jack Rimokh, who is chairman of the global handbag company Signal Brands.