DENLEY INVESTMENT & MANAGEMENT JUSTIN RUBEL T DENLEY INVESTMENT & MANAGEMENT JUSTIN RUBEL T: DENLEYINVESTMENT.COM

Transcription

1 Foot Locker DENLEY INVESTMENT & MANAGEMENT DENLEY INVESTMENT & MANAGEMENT JUSTIN RUBEL JUSTIN RUBEL T T: DENLEYINVESTMENT.COM JRUBEL@DENLEYINVESTMENT.COM

2 THE OFFERING The Hollywood Passage is a project inspired by the demand for small Retail space that is occurring in the modern real estate era, and the lack thereof in the dense, urban Hollywood marketplace. The Project is comprised of small ground floor retail spaces ( Rentable Sq Ft), and includes a basement and 2 nd floor entertainment space for Lease. Hollywood Passage is part of the renowned Café Montmartre, the famed 1920 s hangout for celebrities, and the oldest club in Hollywood. Today the property is being developed into a Retail Passage, to eventually circulate and provide Walk of Fame access for two adjacent, planned hotel developments. 2

3 SMALL SHOP RETAIL SF Available Monthly Rent Occupancy Term RSF $2,050 - $7,775, NNN 2 4 Months 6 Months - 5 Years Features Pop-Up ( short term ) leases available Small Retail spaces ranging from RSF Part of planned Hollywood Hotels Tremendous visibility, foot and traffic counts Street and lot parking nearby Adjacent to the world-renowned Wax Museum Retail support from Walk of Fame stores Close, easy access to the Metro at Hollywood & Highland, and 101 Freeway 3

4 N McCADDEN PL SMALL SHOP RETAIL TOTAL FLOOR SQ FT 8,328 COMMON AREA SQ FT 2,930 LOAD FACTOR 28.40% SMALL SHOP RETAIL USABLE SQ FT RENTABLE SQ FT RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # RETAIL # HOLLYWOOD BLVD 4

5 BASEMENT ENTERTAINMENT SF Available Monthly Rate Occupancy Term 4,401 SF $4.00/SF, NNN 2 4 Months 5 Years Features Large basement accessible from the Retail Passage, close to the entrance Option to Lease front retail space (3) for strong Walk of Fame presence A variety of prospective uses Retail support from the Hollywood Passage Adjacent to the world-renowned Wax Museum Close, easy access to 101 Freeway and Metro Station at Highland Ave HOLLYWOOD BLVD 5

6 2 ND FLOOR ENTERTAINMENT SF Available Monthly Rate Occupancy Term 8,700 RSF $5.00/RSF, NNN 2 4 Months 5 Years Features Large, creative space for a variety of uses Former home of the infamous, Café Montmartre Industrial kitchen with two, 10 x4 kitchen hoods Large, rear terrace with private seating Hollywood Blvd access Adjacent to the world-renowned Wax Museum Close, easy access to 101 Freeway and Metro Station at Highland Ave 6

7 2 ND FLOOR ENTERTAINMENT HOLLYWOOD BLVD 7

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10 TAO ASIAN BISTRO 10

11 LUCKY STRIKE LIVE 11

12 SOUND NIGHTCLUB 12

13 INCOMING AREA DEVELOPMENTS 13

14 INCOMING AREA DEVELOPMENTS Jamison Services, Inc. has commenced construction on the surface parking lot off Hollywood Blvd / Las Palmas Ave / Cherokee Ave, that once provided parking to the Hollywood area. The planned development is a mixeduse complex, featuring 224 studio, one bedroom, and two bedroom apartments, over a relatively small portion of Retail estimated at +/- 1,000 square feet. Planned amenities include a swimming pool, fitness center, and four levels of underground parking. Another mixed-use complex on Las Palmas Ave, off Hollywood Blvd, is an 82 unit planned development called the Line Lofts. The project is already completed and Leasing in the first quarter of 2018, and will feature a swimming pool, a fitness center, and a rooftop deck. Rents are estimated to range from $2,100 - $5,000 per month, depending on the unit type. Sources: Urbanize LA, April 5, 2018, Urbanize LA, October 24,

15 INCOMING AREA DEVELOPMENTS The former parking lot at the SE corner of N Highland Ave and Franklin Ave is well underway in construction of a 6-story, podium-style apartment complex featuring 118 apartment units. The development is spearheaded by Jeff Greene, and is expected to have a fine lineup of amenities, with the exception of retail on the ground level. Denley Investment & Management Co. has a planned, 7- story mixed use complex planned for the corner of Yucca Ave and N Las Palmas Ave. The development plans include 70 apartments, a mix of studio, one bedroom, and two bedroom units, along with +/- 3,000 square feet of ground floor retail. The developer is in process of obtaining entitlements. Source: Urbanize LA, October 17,

16 INCOMING AREA DEVELOPMENTS Mill Creek Residential Trust has begun construction of two buildings on two separate blocks, the combined total of 210 planned apartment units, which will contain a combined total of +/- 12,000 square feet of ground floor retail. One of the two buildings will be highly visible from N Highland Ave, at the intersection of N Highland Ave and Selma Ave, just south of Mel s Diner. Denley Investment & Management Co. has plans for two Hollywood Hotels, to be located off Hollywood Blvd and N McCadden Pl. One of the two will be the renovation of an existing 7-story office building, and the other a 13- story ground up development, consisting of 88 and 182 hotel rooms, respectively. Amenities include rooftop settings and pools, entertainment venues, and easy access to the Walk of Fame and the Hollywood & Highland Center Source: Urbanize LA, March 31,

17 Highland Ave PARKING NEAR SITE +/-58,000 CPD N McCadden Pl Las Palmas Ave Yucca Ave +/-50,000 CPD +/-40,000 CPD Hollywood Blvd 17

18 DEMOGRAPHICS 18