Big Banking Moving In!
December 25, 2010 Community, Real Estate
Yes,…the rumors you’ve been hearing are true! More “big banking” is moving in, with more traffic and people! On Dec. 14, 2010 Hillhurst Los Feliz LLC is leasing the property at 4500 Los Feliz Blvd., which will be taken over by Chase beginning in June 2011 with a 10 year lease. Chase is leasing 5,800 sq ft of the 14,000 sq ft. historic property. The remaining 2,770 square feet is being marketed by Lee & Associates with a focus on a restaurant or specialty retailer. The total combined lease value is $5.3 million.
Hillhurst Los Feliz LLC purchased the structure in 2004 with the intent to re-entitle it for a mixed-use commercial/residential development. However plans changed when the property was designated a cultural historical building, as it was the last building standing that once housed a Brown Derby Restaurant. A renovation of the building currently is underway.
For more info, you may visit Lee & Associates online at www.lee-associates.com.
Comments (3)
Jeez atleast a local Chase it was either the one on Glendale or the cvs to avoid paying ATM fees
Although Chase still sucks
any one have ideas we could present as a neighborhood to the leaseholders or lessees to keep the neighborhood spirit of local shops or focus on green aspects? I’m spinning my wheels and with numbers we might be able to influence the remaining space to be something actually good for the neighborhood. I know the rent is high which is a challenge to small businesses. Thoughts?