Big Retail and Apartment Development for Hollywood's Donut Time District

Big Retail and Apartment Development for Hollywood’s Donut Time District

Posted October 9, 2015

In Apartments, California, Commercial, development, Los Angeles, Residential, Retail

Developer, AvalonBay, spent $100 million to buy six acres of land around Santa Monica and Las Palmas for a huge 695 unit apartment complex complete with another 25,000 square feet of ground floor net leased retail space according to Los Angeles Business Journal.

Los Angeles commercial real estate agents will be pleased to have some new triple net retail and restaurant space coming on market.

Expect the choice of tenants to create a bit of a self-contained community with the selection of retail and restaurant tenants. Plus a development this size should spur the gentrification of the Highland and Santa Monica area. It could use it.

Colliers International will be the landlord leasing agent for the triple net retail and restaurant space.

The project will be built on the site of two old Hollywood Nightclubs, Arena and Circus Disco. The owner, Gene La Pietra tried to develop the property himself, but couldn’t get the financing necessary to put it all together. I talked to him about this ten plus years ago. He did get the city approvals though so that will hugely reduce the amount of time it will take AvalonBay to get permits and start construction.

No one that I’m aware of has seen any architectural renderings yet, but I have little doubt that this will be a great project. Expect completion sometime in 2017.

Net Leased Retail, NNN Property, Triple Net Retail

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