LOS ANGELES—CIM Group and Federal Realty Investment Trust have completed two lease transactions with Marshalls and La La Land for 100% of the space at their retail complex on Hollywood Blvd. Renovations of the 61,400-square-foot, two-story property are currently underway.
Marshalls leased the larger, 32,000-square-foot space on the second story of the property, located at 7001 Hollywood Blvd. This is not the CIM Group's first lease with the discount retailer. It recently signed a lease with Marshalls for the 24,000-square-foot space at the developer's Gershwin Apartments development, also in Hollywood. At that time, CIM Group also signed a 15,000-square-foot lease with PetCo.
La La Land, a retail concept that features a unique experience by playing special California-themed short films produced for the store, leased 29,400 square feet on the first floor of the Hollywood retail building. The retailer plans to install sliding glass walls to open onto Hollywood Blvd. to merge the interior space and the exterior walk of fame.
The property owners sought “community-serving” tenants for the space as well as tenants that would expand the retail options in the area. The building is located adjacent to another retail property owned by the CIM Group and Federal Realty Investment Trust. DSW, CVS and the Fresh & Easy Neighborhood Market occupy that space, which is located at 7021 Hollywood Blvd.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.