the sign of a Profitable Property

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 

  • Q2 - 2021
  • Q2 - 2022
  • Q2 - 2023

Leasing Market Overview

MEASURING Q1 2023

West Hollywood is known for being a prominent retail destination in the Greater Los Angeles area. It boasts various stylish districts and streets that serve as significant fashion and retail hubs nationwide, including Melrose Avenue, Beverly Boulevard, and Robertson Boulevard. The region has a dense population, with numerous affluent households and luxurious residential properties. As a result, rental prices for retail spaces in this submarket are some of the highest in the metropolitan area.

In the past year, the vacancy rate in West Hollywood has increased to 8.0%, while rental rates have remained stable.

SNAPSHOT OF LEASES SIGNED

No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Apr-23 Apr-23 8149-8165 Santa Monica Blvd 1,800 5.50 3 Kyle Pari, Michael Pakravan
2 Apr-23 May-23 7525-7529 Melrose Ave 1,625 5.25 6 Dembo Realty
3 Apr-23 May-23 7494 Santa Monica Blvd 1,330 3.75 3 Highland Partners Corp
4 Apr-23 Jun-23 8314-8316 W. 3rd St 1,450 5.00 13 Major Properties
5 May-23 Jun-23 8776-8778 W. Sunset Blvd 1,900 6.00 11 Newmark
6 May-23 Jul-23 7318 Melrosve Ave 1,159 4.15 7 Commercial Asset Group
7 May-23 Jun-23 8250-8256 Melrose Ave 1,550 4.85 20 Holloway Partners Realty Inc.
8 Jun-23 Jun-23 828-844 N. La Brea Ave 1,651 3.25 6 illi Commercial Real Estate
9 Jun-23 Jun-23 7713 Beverly Blvd 1,932 3.35 3 Lee & Associates Commercial Real Estate
10 Jun-23 Jun-23 7210 Melrose Ave 2,724 3.50 3 HR Property Group

SOURCE: CoStar 

Successful Tenants

Meet Gary Kasden, the owner of 6300 Sepulveda Blvd in Van Nuys, CA. Gary’s success story serves as an excellent example of how a tenant can positively impact not only the leased property but also the surrounding properties. As an owner and investor of over a dozen properties across the U.S., Gary is fully dedicated to overseeing his properties and actively involved in every step, ranging from selecting the right tenant to property maintenance and updates.

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