We were approached by Karla Otto, an international public relations company that specializes in luxury high-end fashion, beauty, and design. They were visiting Los Angeles and were requesting the services of a commercial real estate broker to help them locate space for a showroom in West Hollywood. We set up a search and submitted several options for their consideration, ranging from high rise buildings on Sunset Boulevard to creative spaces on Melrose Avenue. We toured them through Luckman Plaza at 9200 Sunset Blvd, 9000 Sunset Blvd, and 8380 Melrose Avenue, a 3 story mixed-use building, currently undergoing a complete remodel.
9000 Sunset Boulevard
8380 Melrose Avenue
After careful consideration, Karla Otto chose 8380 Melrose Avenue as the building to start lease negotiations with. We submitted a letter of intent on the Penthouse unit, a 1,940 SF space with a 864 SF rooftop patio for entertaining. The landlord’s asking rental rate was $4.50/SF on a 3 year deal. After some heavy negotiating we were able to secure a rental rate of $3.00/SF, saving our client over $2,880 per month.
The Penthouse was nothing more than an open floor plan that was under construction when we started lease negotiations so Redesign Properties was retained by Karla Otto to design the space. Stay tuned for design and construction updates to this unique Penthouse space on Melrose Avenue.