Kennedy Wilson Signs Two Major Tenants to Los Angeles Area Properties
Company completes over $11 million of retail leases in past month
BEVERLY HILLS, CA – December 14, 2010 – (RealEstateRama) — International real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced that the company’s retail brokerage group completed two major lease transactions in the Los Angeles area. Roger Dunn Golf signed a 12,000 square foot lease at NoHo 14 in North Hollywood and Korea-based Tom N Toms Coffee will establish its flagship U.S. location at Solair in Koreatown. Kennedy Wilson has closed over $11 million of retail leases in the past month, including Sweet Lady Jane’s new Santa Monica location, Americana at Brand’s L.A. Creamery, a new Santa Monica location for BlankSpaces and Want Agency’s Nudie Jeans showroom off of Melrose Avenue.
“We are ending the fourth quarter with good results and feel optimistic about the outlook for 2011,” commented Ed Sachse, senior managing director of Kennedy Wilson Properties Group. “Our commercial brokerage expertise has positioned us well to help our clients find tenants that have learned how to do business in the changing retail marketplace by adjusting their business models to reflect the new economy.”
Valued at over $3.8 million, the Roger Dunn lease moves the Los Angeles based golf store out of its original location of over 30 years. The company’s CEO, Craig McCallister, stated that he was “excited to be able to take advantage of the opportunity in this market to upgrade our location to such a high profile site at NoHo14. Lee Shapiro and the rest of the team at Kennedy Wilson have made the entire leasing process go smoothly, and we are planning to be open first quarter 2011 in our new home.”
According to Sachse, the commercial space at NoHo 14 located at 5445 Lankershim Blvd. in North Hollywood was fully leased in just four months. He added, “The quick lease up time is a testament to our committed brokerage team and a little luck, of course.”
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, CA with 21 offices in the U.S. and Japan. The company offers a comprehensive array of real estate services including property and asset management, brokerage and auction services, and construction and trust management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor and manager of real estate investments in the U.S. and Japan. For further information on Kennedy Wilson, please visit www.kennedywilson.com.
