LOS ANGELES-Chase Bank has signed a 10-year lease forapproximately 5,845 square feet of the 14,000-square-foot historicBrown Derby building at 4500 Los Feliz Blvd., according to brokersfrom Lee & Associates who represented the building owner. Theproperty is a circa-1928 landmark that is the only remaininglocation of the small chain of Brown Derby restaurants in LosAngeles during a bygone era in Hollywood.

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The Chase Bank lease is scheduled to begin in June 2011. Lee& Associates principal Duncan Lemmon of the company's ShermanOaks office represented building owner Hillhurst Los Feliz LLC,with Chase represented by CB Richard Ellis. In a separate lease atthe property, current tenant Louise's Trattoria has signed a10-year, five-month deal for approximately 5,431 square feet thatbegan in June. The combined value of the leases is approximately$5.3 million. Lee is marketing the remaining 2,770 square feet atthe building with a focus on a restaurant or specialtyretailer.

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Hillhurst Los Feliz LLC purchased the structure in 2004 with theintent to re-entitle it for a mixed-use commercial/residentialdevelopment. However, plans changed when the property wasdesignated a cultural historical building, as it was the lastbuilding standing that once housed a Brown Derby Restaurant. Arenovation of the building currently is under way.

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The Brown Derby restaurants were best known as a destination forHollywood’s movers and shakers. Like the original Brown Derby onWilshire Boulevard in Los Angeles, the Los Feliz property had thederby-shaped roof, although its structure has been significantlyaltered since its closing. Film mogul Cecil B. De Mille becameco-owner of the Los Feliz restaurant when he bought it in 1940 andconverted it from Willard’s Chicken Inn. The Los Feliz Brown Derbyclosed in 1960 and was the shortest-lived in the chain.

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