Regal Ventures Buys West Hollywood Retail/Garage Property on Sunset Strip
8500 Sunset Blvd features Fred Segal shop and 178-stall parking operation
THE REAL DEAL- JAN. 9 at 11:00 a.m.:
Regal Ventures has bought 37,900 square feet of ground-floor shops and a 178-stall parking garage at 8500 Sunset Blvd in West Hollywood.
The purchase by Regal Ventures of the property’s curbside shops includes a 22,000-square-foot flagship location for Fred Segal, a locally based upscale apparel brand. Other tenants in the 100-percent occupied storefronts include Kith, a New York-based apparel and footwear retailer; Rumble, a boxing fitness chain; Tesse, a Bill Chait-branded restaurant and wine lounge; and Tia, a female-focused healthcare firm.
The deal is the latest sign of demand along the 1.7-mile Sunset Strip, a Los Angeles-area hotspot for nightlife, shopping, hotels and restaurants.
Celebrity Kim Kardashian is opening a store down the street at 8569 West Sunset Boulevard.
—Dana Bartholomew of The Real Deal