Kennedy Wilson Closes Lease for Yellow Fever in Venice, California
Asian inspired fast casual restaurant expands to second location
Los Angeles, CA – January 22, 2015 – (RealEstateRama) — Global real estate investment and services firm Kennedy Wilson has negotiated a 10-year retail lease for Yellow Fever, an Asian inspired fast casual restaurant serving healthy customizable bowls, at the Plaza Marina shopping center in Venice, California. Located at 2570 Lincoln Blvd., the 1,500-square-foot location marks the restaurant’s second location and official entry into the Los Angeles market.
Michael Pakravan, vice president of brokerage at Kennedy Wilson, and Ed Sachse, executive managing director of brokerage, represented both Yellow Fever and the landlord, Quiet Lion 7, LP, in the transaction.
“Over the last year, the fast casual restaurant sector has undergone a dramatic evolution,” said Pakravan. “Consumers are looking for food that is much more visual so they can post about it on their social media platforms, which is driving certain restaurant concepts. Customizable pizza and premium burgers have largely dominated the space; however, there still remains a need for personalized, healthy Asian-inspired cuisine, and Yellow Fever’s innovative offerings fill a niche that Southern Californians are craving.”
Yellow Fever is the brain child of investment partners Chef Kelly Kim, Michael Kim and Jeff Nitta. The partners opened their first location at 24416 Crenshaw Blvd. in Torrance when they found there was a gap for healthy Asian food in the fast casual restaurant space. After building a cult following in the South Bay, the partners decided to expand to the Silicon Beach market and approached Kennedy Wilson to help them find the right location.
“The personality of Yellow Fever is a great fit for the Silicon Beach neighborhood, but we wanted to make sure that the specific location had the right characteristics to meet our long term goals,” said Nitta. “Ed and Michael know the market well and have a real passion for food. We felt that they truly grasped what we were trying to do and connected us with a landlord that has a similar business philosophy. There was immediate synergy, which produced a great result that met our goals for Yellow Fever’s flagship location.”
The pad building is situated in the heart of the Venice/Marina del Rey neighborhood with a sizable daytime population on the high-traffic intersection of Lincoln Boulevard and Washington Boulevard. Nearby tenants in the adjacent shopping center anchored by Costco include tenants like Verizon, Starbucks and In-N-Out Burger.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, CA, 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.
About Yellow Fever
Serving “Asian bowls for your soul” since 2013, Yellow Fever offers thoughtfully crafted Asian inspired cuisine using low-gluten recipes, premium meats, hormone-free chicken, non-GMO and locally grown ingredients and organic produce to produce bold, exotic flavors. The customizable approach invites patrons to play with their food, mixing up ingredients from seven signature bowls that bring to life popular flavors found throughout Asian regions, even bridging the gap to incorporate flavors from Hawaii and California. Since its inception, Yellow Fever has served more than 100,000 bowls from its original Torrance, California location. For more information, please visit www.yellowfevereats.com.
