Los Angeles – Global real estate investment and services firm Kennedy Wilson has closed four retail and entertainment lease transactions in Hollywood, Santa Monica and Westchester. This collection of new leases, which carry an aggregate value of more than $3 million, points to an uptick in the Los Angeles retail market.
“These four distinctive leases will bring diverse food and shopping options along with new jobs to their nearby communities,” said Ed Sachse, executive managing director of Kennedy Wilson’s Brokerage Group. “People are beginning to feel more comfortable spending and these transactions are reflecting that type of growth in the industry.”
The four lease transactions include clothing store G-Star in West Hollywood, represented by Sachse; build-your-own pizza restaurant Pizza Five 85 located in Westchester, represented by agent Matt Adamczyk; fitness center Dethrone Basecamp in Santa Monica; and entertainment news studio BiteSizeTV, which expanded into the former Drai’s ground-floor private lounge in Hollyood, both represented by agent Lee Shapiro.
All leases are set for at least a five-year term.