LOS ANGELES, CA - NAI Capital is pleased to announce the SALE of the Scottish Rite Masonic Temple. The eight statues that stand guard outside the Scottish Rite Masonic Temple have made it a distinctive part of Wilshire Boulevard for more than 30 years. This iconic Los Angeles landmark, designed by the late architect and artist Millard Sheets, encompasses a linear city block between the signalized intersections of Plymouth Ave & Lucerne Ave, with approximately 400 linear feet of Wilshire Boulevard frontage.
Dan Bacani and Marie Taylor with NAI Capital’s Pasadena office represented the Seller, The Scottish Rite Cathedral Association of Los Angeles in the disposition of an 89,768 SF special purpose property located at 4357 Wilshire Boulevard. At the Buyer’s request, the value of the transaction and identity of the purchaser were not disclosed.
Dan Bacani with NAI Capital notes, “The property was available for nearly five years in one form or another with several reputable brokerage firms. The former owner also attempted to reach out to potential buyers during this time. After careful analysis of how the Scottish Rite Masonic Temple was marketed, we decided that the definition of insanity was truly to do the same thing and expect a different result. We strategized with the Seller and employed a multi-pronged approach which included social media, community outreach as well as traditional marketing tactics.”
The property was owned by the Grand Lodge of Free and Acceptable Masons of California which is a part of the oldest and largest global fraternity. Frank Loui, Deputy of the Supreme Council in California, Ancient and Accepted Scottish Rite of Freemasonry, Southern Jurisdiction, U.S.A., noted: The property sale had a lot of moving parts to it including legal issues which needed to be addressed. We were fortunate that the same team of brokers who sold another property for us in the San Gabriel Valley were equally as successful here. They found us the perfect Buyer - one who had an impressive vision for the building and the financial resources to pull it off. We could not have been more pleased with the result.”
“Ultimately, our creative efforts resulted in multiple all-cash offers from qualified buyers,” said Marie Taylor with NAI Capital. During the process, we worked with collaboratively with the City of Los Angeles, the Windsor Square Homeowners Association, legal counsel and both parties to resolve some of the complicated issues involving the sale of the property. It was a true win-win for everyone involved,” Taylor continues.
The Scottish Rite Masonic Temple was built in 1960, it is a four-story building situated on two acres of land. The Freemasonry or Masons are the oldest and largest world-wide fraternity. Famous members include Henry Ford, Franklin D. and Theodore Roosevelt, Mark Twain and many others. The immense property includes various meeting rooms, offices, a large ballroom on the top floor, and four elevators and a 1,800 seat theater.
The late Millard Sheets is a world renowned Los Angeles architect who made irreplaceable contributions to Southern California's art and architecture legacy. Sheets designed the building, painted three of the murals inside and hired acclaimed stone mason carver, Albert Stewart, forhis exceptional stone work. Amongst other contributions, he was a major force in developing the Scripps College art department and in creating both Otis ArtInstitute and CalArts (the latter at Walt Disney's request) and under his leadership they added BFA and MFA degrees.Sheets dotted SoCal with over 50 gilded, modern bank buildings (now mostly Chase Banks) that are now part of the landscape to any native. (L.A. Times, 1994 article).
In his own words, from an interview he gave in 1977, Sheets noted on the property “The Scottish Rite Cathedral was one of the most exciting projects I ever had anything to do with.”
