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Market Report: West Hollywood

WEST HOLLYWOOD

West Hollywood, Norma Triangle, West Hollywood West, and more.

Rent Rate

Leasing Activity SF

Vacant Available SF

SOURCE: CoStar 

  • Q1 - 2021
  • Q1 - 2022
  • Q1 - 2023

Leasing Market Overview

MEASURING Q1 2023

Over the past several years, West Hollywood has seen an increase in vacancies, rising from a low of 3.8% in 18Q4 to above 8% in late 2021, though the rate has since dropped to 7.3%, still above the metro area’s average of 5.3%. Historically, the area’s retail market has experienced more volatile occupancies than the rest of Greater Los Angeles.

Fitness centers continue to drive demand across various size ranges in West Hollywood. FLOWST8, for instance, recently leased 2,675 SF at 8305 W Sunset Blvd. for an annual rate of $71.40/SF, while Gym John Read Fitness, a high-end gym concept with DJs spinning, secured a 40,000 SF lease in March 2022 at 8550 Santa Monica Blvd, previously occupied by 24 Hour Fitness. The new location will be the gym’s third in the nation.

SNAPSHOT OF LEASES SIGNED

No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Jan-23 Feb-23 7728-7738   Santa Monica Blvd 5,750 4 6 illi Commercial Real Estate
2 Jan-23 Feb-23 311 S. Sweetzer Ave 1,100 2.72 17 Dembo Realty
3 Jan-23 Feb-23 8255 Beverly Blvd 1,150 3.95 2 South Park Group, Inc
4 Feb-23 Mar-23 7253-7255 Santa Monica Blvd 2,500 3.13 3 illi Commercial Real Estate
5 Feb-23 Mar-23 1234 N. La Brea Ave 3,610 3.25 27 Kennedy-Wilson Properties, Ltd.
6 Feb-23 Mar-23 7990-7992 Santa Monica Blvd 1,172 5.25 23 Newmark
7 Feb-23 Mar-23 7404-7414 Sunset Blvd 2,560 2.95 6 NAI Capital
8 Mar-23 Apr-23 8300-8306 Melrose Ave 5,500 5.5 17 Stafford Commercial Real Estate
9 Mar-23 Apr-23 8305 W. Sunset Blvd 2,675 5.95 4 Brandon Cohan Real Estate
10 Mar-23 Apr-23 150 S. La Brea Ave 5,500 6 2 South Park Group, Inc

SOURCE: CoStar 

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Successful Tenants

Meet Phil, owner of Freda’s Pizza & Woodfired Kitchen in Westlake Village, CA. His passion for the craft led him and his partner to create Freda’s Pizza & Woodfired Kitchen, a concept that combines traditional techniques and ingredients with a modern twist.

With a prime location secured, Freda’s Pizza & Woodfired Kitchen was able to hit the ground running and quickly establish itself as a popular destination for pizza lovers.

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