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Cahuenga Corridor Retail Asset Trades for $61M
Santa Monica, CA-based Artisan Realty Advisors acquired Space 15 Twenty, a 40,000-square-foot retail property in Hollywood, CA, from Cahuenga Lofts LLC and Ivar Group LLC for $61 million. The two-building asset is located within the trendy Cahuenga Corridor, at 1520, 1534, 1538 and 1542 N. Cahuenga Blvd. and 1535 Ivar Ave.
Lee & Associates’ Cory Stehr, who represented the sellers, notes “My clients have owned the property since 2006, and it is such a unique property with high visibility and strong branding that it generated quite a few off-market offers over the years. The Hollywood trade area and demographics lay the groundwork for many different opportunities, and Artisan will be exploring a number of options for this property.”
Hollywood has become an epicenter for redevelopment in Los Angeles, with more than $4.8 billion in ground-up and redevelopment projects underway or in planning.
The property is currently leased to six retailers, including anchor Urban Outfitters, Umami Burger, Free People and Pharmacy Boardshop.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




