- Amazon bought Buildings 2 and 3 at the 39-acre Lincoln Heights campus, about 500K SF in total, and transfer tax records imply a sale price of $146.2M.
- LA28, the 2028 Summer Olympics organizer, leased the 667K SF Building 1 for 28 months, completing the site’s turnaround from vacant Forever 21 headquarters.
- The deal fits Amazon’s push to grow same-day facilities from about 85 today to more than 1,000 by 2031, and adds a Los Angeles site within 15 miles of 5.7M people.
Amazon bought two of three buildings at the former Forever 21 headquarters in Los Angeles, and 2028 Olympics organizer LA28 leased the third, according to Bisnow. The Lincoln Heights campus at 3930 Mission Road spans 39 acres.
Amazon’s purchase covers roughly 500K SF of warehouse space.
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What Amazon Bought
Marketing materials describe Building 2 as a 224K SF warehouse with about 11 acres of industrial outdoor storage or a build-to-suit site. Building 3 is a newly renovated warehouse of about 279K SF.
Public records show Amazon paid $9.52M in Measure ULA transfer taxes, which indicates a $146.2M sale price. Amazon declined to comment on its plans.
LA28 Takes the Third Building
LA28 leased Building 1, a 667K SF flex office and warehouse building formerly used as Forever 21 offices, for 28 months, according to a source. Other terms and its planned use are unknown.
It is not the organizer’s first LA lease. LA28 took 160K SF Downtown in 2025, and Olympics partner On Location leased 108K SF at the former Union Bank Plaza this year.
Zooming Out
Amazon plans to grow its same-day network to more than 1,000 locations by 2031 from about 85 today. The Lincoln Heights campus puts it within 15 miles of more than 5.7M people, per the property’s marketing materials.
Bisnow previously reported that Amazon is expected to add 51M SF of warehouse space nationally, up from 39M SF in 2025. The deal comes as industrial rents keep rising nationally.
Why It Matters
Newland Capital Group and Related Fund Management bought the campus last summer from a Blackstone and Worthe Real Estate Group joint venture for $120M, according to Commercial Observer. They planned to redevelop it for industrial use, then marketed it through CBRE for sale, lease or build-to-suit.
The split sale and lease shows how a large vacant corporate campus can be repurposed quickly in infill Los Angeles.
What’s Next
Watch for Amazon’s site plans and for how LA28 uses its space ahead of the 2028 Games.
