Foot Locker DENLEY INVESTMENT & MANAGEMENT DENLEY INVESTMENT & MANAGEMENT JUSTIN RUBEL JUSTIN RUBEL T 323.463.4100 T: DENLEYINVESTMENT.COM JRUBEL@DENLEYINVESTMENT.COM
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 (102 573 Rentable Sq Ft), and includes a basement and 2 nd floor entertainment space for Lease. Hollywood Passage is part of the infamous 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
SF Available Monthly Rent Occupancy Term 102 573 RSF $2,050 - $7,775, NNN 2 4 Months 5 Years Features Small Retail spaces ranging from 87 552 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
N McCADDEN PL 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 #1 448 573 RETAIL #2 404 517 RETAIL #3 205 262 RETAIL #4 409 523 RETAIL #5 406 520 RETAIL #6 294 376 RETAIL #7 80 102 RETAIL #8 375 480 RETAIL #9 402 515 RETAIL #10 273 349 RETAIL #11 212 271 RETAIL #12 285 364 HOLLYWOOD BLVD 4
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
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
HOLLYWOOD BLVD 7
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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, 2017 11
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, 2016 12
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, 2017 13
Highland Ave +/-58,000 CPD N McCadden Pl Las Palmas Ave Yucca Ave +/-50,000 CPD +/-40,000 CPD Hollywood Blvd Justin Rubel l 323.463.4100 l www.denleyinvestment.com 14
Justin Rubel l 323.463.4100 l www.denleyinvestment.com 15