Kennedy Wilson Named Leasing Agent for 38,000 SF of Retail/Restaurant Space in DTLA

LOS ANGELES - Feb. 3, 2015 - PRLog -- Global real estate investment and services firm Kennedy Wilson has been tapped to handle the leasing of 38,000 square feet of retail and restaurant space in the Hanover South Park Collection, three luxury mixed-use developments located in the South Park neighborhood of Downtown Los Angeles (DTLA).  Lee Shapiro, executive vice president of the company’s Brokerage Group, and Justin Weiss, senior associate, were named as the listing agents.

“DTLA is growing rapidly through this cycle of redevelopment projects, with Hanover bringing more than 800 market rate apartments and a variety of creative restaurant and retail concepts to the South Park neighborhood,” said Shapiro, who along with Weiss have more than 30 years of combined sales and leasing experience in the area. “South Broadway is transforming into DTLA’s version of SoHo and, in comparison, the neighborhood surrounding L.A. LIVE is much like Times Square. The Hanover South Park Collection will provide the link between these two very different neighborhoods, drawing unique day and night populations into one of the most eclectic destinations in Downtown.”

Developed by The Hanover Company, a national developer of multifamily residential properties, the ground floor space of each project was designed for tenants, like chef-driven restaurants, urban retail tenants and boutique or customized fitness tenants, which will draw conventioneers to travel east and millennial residents from South Broadway to travel west.

Located at 301 W. Olympic Blvd., Hanover South Park has more than 12,000 square feet of divisible ground floor space, with a 16.5-foot ceiling height, available for lease beneath 284 luxury apartments. Tentatively scheduled for completion in the first-quarter of 2015, the project boasts 50 commercial on-grade customer parking spaces, two retail shafts for restaurant ventilation and outdoor patio seating.

Hanover Grand Avenue, located 415-450 W. Olympic Blvd., has 12,000 square feet of divisible ground floor space  available, with a 14-foot ceiling height, for lease beneath 273 luxury apartments. Tentatively scheduled for completion in the first-quarter of 2016, the project includes eight commercial on-grade customer parking spaces and three retail shafts for restaurant ventilation.

Hanover Olympic is located at 321 Olympic Blvd. and features more than 14,500 square feet of divisible ground floor space  available, with a 15-to-16-foot ceiling height, for lease beneath 263 luxury apartments. Tentatively scheduled for completion in the second-quarter of 2016, the project consists of eight commercial on-grade customer parking spaces and three retail shafts for restaurant ventilation.

Nearby entities include Ace Hotel, The Stocking Frame Bar and Refuge, Whole Foods, Fashion Institute of Design and Merchandising, Umami Burger, OAK NYC and The BLOC.

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About Kennedy Wilson

Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, California, with 25 offices in the U.S., U.K., Ireland, Spain, Jersey and Japan. The company, on its own or with partners, invests opportunistically in a variety of real estate-related investments, including commercial, multifamily, loan purchases and originations, residential and hotels. Kennedy Wilson offers a comprehensive array of real estate services, including investment management, property services, auction, conventional sales, brokerage and research. For further information on Kennedy Wilson, please visit www.kennedywilson.com. (http://www.kennedywilson.com/)