"If current activity continues its pace, 2008 should be anexcellent year," says John Tronson, a Ramsey-Shilling principal,who has worked in the market for almost 20 years. Tronson pointsout that developers and their equity partners in Hollywood areamong the biggest and strongest in the country, including thelocally based CIM Group, Legacy Partners of Northern California,the New York City-based Clarett Group, Houston-based CamdenProperties Trust and others.

The Clarett Group is working on entitlements for a project thatwould add office space at the site of the Pantages Theater, and theCIM Group--in addition to its holdings and developments under wayin Hollywood--recently announced plans for a new office project innearby West Hollywood.

[IMGCAP(2)]Tronson says that the demographics and political willto revitalize the submarket "are firmly in place" in Hollywood,which continues a renaissance of recent years that has produced newoffice, mixed-use, residential and retail developments. The area'soffice market consists of about four million sf, mainly on Sunsetand Hollywood boulevards between La Brea Avenue and VineStreet.