"George Lucas Acquires Cold Storage Facility in LA's Chinatown"

George Lucas' family office, Skywalker Holdings, has purchased a 155,000-square-foot cold storage and industrial facility in L.A.’s Chinatown for $45.5 million. The property was planned for redevelopment but plans were pulled, and it's uncertain if new development plans will be filed. The purchase triggered a $2.77 million transfer tax. Skywalker Holdings also owns the Skywalker Ranch in Marin County and vineyards in France, and George Lucas is set to open the $1 billion Lucas Museum of Narrative Art in L.A.’s Exposition Park next year.