Los Angeles, CA – (RealEstateRama) — Kennedy Wilson, a global real estate investment and services firm, has announced the closing of three 10-year leases with major national retailers at the South Park by Windsor mixed-use property in Downtown Los Angeles (DTLA), bringing the ground-floor retail space to 100-percent occupancy. The property is one of South Park’s newest mixed-use high rise developments to recently open.
Kennedy Wilson’s Lee Shapiro, executive vice president of brokerage, and Justin Weiss, vice president of brokerage, were the exclusive leasing agents for the project. The team negotiated 10-year leases with national retailers Chipotle and Loit (men’s and women’s fashion and café) which have already opened and Aveda Lifestyle Salon and Spa – currently scheduled to open in fall 2017 – all of which account for the more than 12,500 square feet of commercial space at South Park by Windsor. The ground-floor retail serves as the base for 284 luxury apartments located at 301 W. Olympic Blvd.
Originally developed by The Hanover Company, a national developer of multifamily residential properties, as one of three new mixed use developments in the submarket, the ground-floor spaces of each building target lifestyle retailers including chef-driven restaurants, urban retail tenants and boutique fitness tenants, which will draw conventioneers to travel east and millennial residents from South Broadway to travel west.
Situated in the heart of South Park and adjacent to the Fashion Institute of Design and Merchandising (FIDM), the mixed-use developments are surrounded by other national retailers including, Shake Shack and Soul Cycle who are supporting the growth of the immediate submarket. South Park by Windsor is located in close proximity to Oceanwide Plaza, a mixed-use mega-project whose retail portion is also exclusively represented by Kennedy Wilson.