Something Like This in Silicon Beach Would Be Mind Blowing!

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From the Wall Stree Journal.

‘Everyone is excited to finally have a place to stay. I’ve always wanted to develop a creative hub,’ Luchford says.

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RoseHotelVenice

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Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey Sees Surge in Developer Optimism

Development Activity Expected to Accelerate in Most Markets

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A prime Westwood Village property and a Beverly Hills corner retail Property Sold For Over $1,000 per Square Foot of Ground Floor Space.

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Beverly Hills and Westwood SOLD Dec 2013

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Historic Westwood Village

In an unprecedented and game changing move, Urban Outfitter (NASDAQ:URBN) is more than doubling its Westwood Village presence through the signing of  its lease with Topa Management Company for 16,556 square feet on Westwood Boulevard.

According to Chris Kuklinski, “We are seeing increasing interest in Westwood from better retail and restaurant concepts.  The incredible success of 800 Degrees Neapolitan Pizzeria, who recently expanded into additional space within Topa’s portfolio, is one outstanding example of this transformational shift.

Retailers are taking note of the consistent traffic flowing through the Village that includes high-income local residents, white-collar office workers in the 4.5 million square feet of Class A office space and the average daily population of approximately 75,000 students, staff and visitors at UCLA’s campus and Medical Center.

Read the full announcement here…

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Silicon Beach

“The demand is high and the supply is nil”

Silicon Beach
(Venice, CA) is now a label that is sticking with most tenants and residents.  It is attracting high tech firms from all over the country as well as Europe and Asia.

You ask, when did this renaissance begin?

Answer: the day Google and Facebook decided to relocate to Venice several years ago and make it their Southern California headquarters. 

Read David Thind‘s views of Silicon Beach here…

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