Washington, DC – (RealEstateRama) — Wilson, a global real estate investment and services firm, announced today that it has represented the landlord in one of the largest restaurant leases in Downtown Los Angeles this year, bringing the ground-floor retail space at mixed-use development 1000 Grand by Windsor to 100 percent occupancy. Kennedy Wilson’s Lee Shapiro, executive vice president of brokerage, and Justin Weiss, vice president of brokerage, were the exclusive leasing agents for the retail portion. The duo secured a 10-year, 5,210-square-foot lease with Genwa, a high-end Korean barbeque restaurant with two other locations in Los Angeles.
The team negotiated two other 10-year leases at 1000 Grand by Windsor including Healthy Spot, a 3,370-square-foot pet supply store with pet daycare, obedience courses and grooming services, and Pizza Fire, a 2,451-square-foot pizzeria founded by Sean Brauser and Bruno DiFabio, two world-renowned, award-winning pizza chefs. Healthy Spot is currently open, and Genwa and Pizza Fire are slated to open in summer 2018.
“We’ve seen a burst of leasing activity at 1000 Grand by Windsor and the three other mixed-use projects recently built within a two-block stretch on Olympic Boulevard, between Grand Avenue and Hill Street, in Downtown LA. Most of the approximately 50,000 square feet of new ground-floor retail and restaurant space within these buildings was leased in just the past year,” said Shapiro. “Beyond these specific projects, newly constructed space in the greater South Park area is also being quickly absorbed by retailers and restaurants like Genwa Korean Barbeque, who have identified this submarket as a key location for continued growth.”
1000 Grand by Windsor features 273 new studio, one- and two- bedroom apartments above retail at 415-450 W. Olympic Boulevard.
“As the demographics of Downtown Los Angeles continue to shift, we are focused on securing the right tenants to meet the changing needs of both residents and visitors,” said Weiss. “Genwa fills the popular high-end Korean barbecue gap that is currently underserved in the market, and we are confident it will be well-received by the local community.”
For more information commercial availability at other Downtown Los Angeles developments represented by Kennedy Wilson, visit www.kennedywilson.com/brokerage.
About Kennedy Wilson Property Services
Kennedy Wilson (NYSE:KW) is a global real estate investment company that offers brokerage and property management as a part of a comprehensive array of real estate services. Specializing in the leasing and sale of commercial and multifamily properties, the brokerage team represents tenants and landlords on every aspect of site selection, negotiation and occupancy. Headquartered in Beverly Hills, brokerage services are also offered at Kennedy Wilson offices in Austin, Chicago, Las Vegas, San Francisco and Sacramento. For further information, please visit www.kennedywilson.com/brokerage.