- Amazon bought two buildings totaling about 500K SF in Lincoln Heights, with $9.52M in Measure ULA taxes implying a $146.2M price, per public records Bisnow cited.
- LA28, the 2028 Olympics organizer, leased the 667K SF third building for 28 months, according to a source familiar with the deal.
- Amazon aims to expand its same-day network from about 85 sites to past 1,000 by 2031, and this campus puts it within 15 miles of 5.7M people.
Amazon has bought two of the three buildings at the former Forever 21 campus in Los Angeles’ Lincoln Heights, and Olympics organizer LA28 has leased the third, according to Bisnow.
A transfer tax payment in public records points to a $146.2M price for Amazon’s purchase.
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What Amazon Bought
The two buildings, marketed as Buildings 2 and 3, total roughly 500K SF. Building 2 holds 224K SF of warehouse plus roughly 11 acres that could serve as outdoor storage or a build-to-suit site, while Building 3 is a recently renovated warehouse of about 279K SF.
Amazon paid $9.52M under Measure ULA, which implies the $146.2M price. The company declined to comment, so its plans for the site are unclear.
Amazon’s Same-Day Push
Amazon is planning to expand same-day delivery to over 1,000 locations by 2031, from roughly 85 at present. Marketing materials say the campus puts it within 15 miles of over 5.7 million people.
Bisnow earlier reported Amazon expects a 51M SF warehouse expansion nationwide, compared with 39M SF in 2025.
LA28 Takes the Third Building
LA28 leased Building 1, a 667K SF flex property that combines offices with warehouse area and formerly housed Forever 21’s own offices. A source told Bisnow the term is 28 months; other terms were not available.
It is not the organizer’s first Los Angeles lease. LA28 took 160K SF of offices on South Olive Street Downtown in 2025, and Olympics partner On Location leased 108K SF at the former Union Bank Plaza this year.
Seller History
Newland Capital Group and Related Fund Management sold the buildings and are LA28’s landlord. Last summer they bought the campus from a Blackstone-Worthe joint venture for $120M, per earlier Commercial Observer coverage.
The owners had planned new industrial facilities, and CBRE pitched the site to buyers, tenants and build-to-suit users.
Why It Matters
The two buildings alone sold for more than the $120M the sellers paid for the whole campus a year ago. That shows how much value infill logistics space carries for same-day delivery users, which is also behind industrial rents rising.
Placing the third building with an Olympics organizer fills what had been a vacant headquarters.
What’s Next
Neither Amazon nor LA28 has said how it will use the space. Watch for permit filings and any announcement tying the site to Amazon’s same-day network.
