Rolex owns the building and couldn't lease the space so the re-opened the location but really as just a collection point. The dont have a full blown repair center anymore. They are sending the majority of their repairs to Dallas. Just easy repairs on site.
So if you live n LA, it's a good place to drop off your watch, but if not you should send your watch directly to Dallas.
I think they are just a tenant in that building. The owners (unless something has changed recently) occupy the top floor of the building and some of their company names are on the monument sign outside. The principals are well known in the financial community in LA.
very good restaurant just 100 meters away, Wolfgang Puck's Spago on Canon Drive. While you are having your crystal polished you can cross the street and have an incredible lobster/bacon/avacado club sandwich and a glass of wine.