Check Out CoStar’s Quarterly List of Market-Leading Deals and Dealmakers
Prominent retail leases signed by 24 Hour Fitness, Furniture Design Center and Total Wine & More negotiated by top dealmakers from JLL are among the second quarter retail leases recognized by CoStar.
As big ticket items involving sizable investments, commercial property transactions often have a wider impact within the community. CoStar will recognize the largest leases completed each quarter and the dealmakers who made them happen in their respective markets.
Here are the Los Angeles retail leases selected as the second quarter 2022 winners of the CoStar Power Broker Quarterly Deal Awards:
TOP LEASE: 750-762 S. Broadway, Los Angeles, CA
Space Leased: 7,000 SF
Deal Type: New Lease
Size: 165,400 SF
Tenant: Star BBQ
Brokers Involved: Brandon Cohan and Sheela Shouhed of Brandon Cohan Real Estate represented the landlord. Brandon Cohan of Brandon Cohan Real Estate represented the tenant.
Deal Commentary: Star BBQ has found a new home after its previous location in Koreatown was demolished last year to make way for the development of two high-rise residential buildings between Wilshire Boulevard and West Sixth Street. Koreatown-based Jamison Services has already begun construction on the roughly 2-acre site. Plans call for development of 428 apartments, 10,000 square feet of ground-floor retail and restaurant space and an 850-car parking garage.
TOP LEASE: 4625 Admiralty Way, Marina Del Rey, CA
Space Leased: 4,728 SF
Deal Type: New Lease
Size: 17,387 SF
Tenant: Restore Hyper Wellness + Cryotherapy
Brokers Involved: Brandon Cohan of Brandon Cohan Real Estate and Jay Luchs of Newmark represented the landlord. Patrick Sheekey of Highland Partners represented the tenant.
Deal Commentary: The fast-growing retail wellness brand signed a 10-year lease in the Californian at the Boardwalk Shops at Marina del Rey. The specialty center features outdoor plazas, patio dining, free surface parking and over 80,000 square feet of retail, restaurant and office space, plus boater amenities. Customers and boaters can enjoy the abundant patio dining, outdoor plazas, biking trails and free surface parking. In July, Austin, Texas-based Restore Hyper Wellness announced its expansion into Southern California. It plans to open 14 locations in 2022 and another 14 locations in 2023.