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California Jewelry Mart |
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Boasting one of the premier addresses in the downtown Los Angeles Jewelry District, this nine story 157,000 square foot building was originally constructed in 1916 as a general office building. It was refurbished in 1967 for use as a jewelry mart. Hertz Investment Group purchased the California Jewelry Mart in 1998 as a spin off of a portfolio disposition by Helmsley Spears. Immediately after purchase, Hertz Investment Group successfully implemented a new operational plan and cut expenses by more than half before selling the property in 2000 for a substantial profit.
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