When the Hell Did Los Angeles Get This Huge Chair?

I had to report to jury duty for the County of Los Angeles on Wednesday. I didn't get called into duty, so I had a chance to read a lot of The Intellectual Devotional, part of which was edited by a friend of mine. On my way back from the taco wagon for my lunch break, I looked across the street from the courthouse and saw this huge chair. When the hell did Los Angeles get this huge chair, and why was it never on the Amazing Race?

I googled "Los Angeles Big Chair" and came up with this site. According to the website:

Artist Giancarlo Neri directed us to info on a chair created by the company Promosedia in Manzano, Italy -- 60 ft. tall. A slightly smaller version provided by Promosedia, touting the "Chair District" of Friuli, Italy, stands at the entrance of the LA Merchandise Mart, 1933 S. Broadway, Los Angeles, California. America has lost its giant chair edge!