The Historic Formosa Gets a Second Chance

The Formosa Café, a restaurant space in the West Hollywood Gateway, is getting a second chance. The historic restaurant, which opened in the early 1940s, shuttered suddenly in the beginning of the year to shock—and backlash—from L.A. residents. Now, Colliers International VP Gabe Kadosh, has negotiated a new lease with 1933 Group, on behalf of owner Clarion Partners, to revive the historic property. 1933 Group will create a more experience-driven atmosphere while maintaining the integrity and character of the original property.

“It is an interesting situation. There is a lot of history there, and there aren't a lot of historic-preserved freestanding buildings around anymore in all of Los Angeles,” Kadosh tells GlobeSt.com. “This property has this great Hollywood history with Frank Sinatra and presidents that have dined there. You also have the entertainment industry with all of the movie studios and production studios. This was the go-to spot for many years for people in that industry.”

Formosa Café is technically part of the West Hollywood Gateway shopping center, which houses more traditional national tenants, like a Target and Best Buy. The shopping center was developed more than a decade ago, and as part of the development agreement, the Formosa remained untouched. “It is a really interesting mix because you have a very old building with something that is very corporate and new,” says Kadosh.

The restaurant was struggling, and the family eventually allowed Kadosh to market it for new tenancy. “We got a lot of interest and talked to some of the biggest names in restaurants, from super high-end Michelin star chefs to full bar nightlife guys,” he explains. “It was a really broad spectrum of people. What we are trying to do is find someone that would restore the space and keep some of the charm and characteristics that were there originally. We went on a hunt to find that balance of a tenant that would be a good operator as well as someone that had a good cocktail program.”

1933 Group was the perfect fit. The company owns and operates seven other bars in Los Angeles, including the Harlow, which is adjacent to the property. However, bringing together a creative tenant like 1933 Group, which had a clear vision for the property, with a very corporate landlord like Clarion, wasn't easy. “We had to do a lot of handholding to make it work. Clarion Partners is really a corporate landlord, and they are really focused on the dollars,” says Kadosh. “They are very different than the artsy people that want to open up a bar. It was very hard to make that balance because they are very different personalities.”

It wasn't only the tenant that had trouble adjusting to the unusual project. Clarion also had trouble understanding the unique nature of the building, especially since it was connected to their more traditional and conventional shopping center. “I had a similar situation when I did the lease on the Pikey on Sunset,” says Kadosh. “That property was the Horse and the Coach for 50 years, and we came in and completely renovated it. Ultimately, everyone was happy because we renovated the property and upgraded it. They made it more accessible. I think that is the case here too.”

1933 Group is currently working on the renovation. Kadosh anticipates the new spot will open in the fourth quarter of 2018.

The Formosa Café, a restaurant space in the West Hollywood Gateway, is getting a second chance. The historic restaurant, which opened in the early 1940s, shuttered suddenly in the beginning of the year to shock—and backlash—from L.A. residents. Now, Colliers International VP Gabe Kadosh, has negotiated a new lease with 1933 Group, on behalf of owner Clarion Partners, to revive the historic property. 1933 Group will create a more experience-driven atmosphere while maintaining the integrity and character of the original property.

“It is an interesting situation. There is a lot of history there, and there aren't a lot of historic-preserved freestanding buildings around anymore in all of Los Angeles,” Kadosh tells GlobeSt.com. “This property has this great Hollywood history with Frank Sinatra and presidents that have dined there. You also have the entertainment industry with all of the movie studios and production studios. This was the go-to spot for many years for people in that industry.”

Formosa Café is technically part of the West Hollywood Gateway shopping center, which houses more traditional national tenants, like a Target and Best Buy. The shopping center was developed more than a decade ago, and as part of the development agreement, the Formosa remained untouched. “It is a really interesting mix because you have a very old building with something that is very corporate and new,” says Kadosh.

The restaurant was struggling, and the family eventually allowed Kadosh to market it for new tenancy. “We got a lot of interest and talked to some of the biggest names in restaurants, from super high-end Michelin star chefs to full bar nightlife guys,” he explains. “It was a really broad spectrum of people. What we are trying to do is find someone that would restore the space and keep some of the charm and characteristics that were there originally. We went on a hunt to find that balance of a tenant that would be a good operator as well as someone that had a good cocktail program.”

1933 Group was the perfect fit. The company owns and operates seven other bars in Los Angeles, including the Harlow, which is adjacent to the property. However, bringing together a creative tenant like 1933 Group, which had a clear vision for the property, with a very corporate landlord like Clarion, wasn't easy. “We had to do a lot of handholding to make it work. Clarion Partners is really a corporate landlord, and they are really focused on the dollars,” says Kadosh. “They are very different than the artsy people that want to open up a bar. It was very hard to make that balance because they are very different personalities.”

It wasn't only the tenant that had trouble adjusting to the unusual project. Clarion also had trouble understanding the unique nature of the building, especially since it was connected to their more traditional and conventional shopping center. “I had a similar situation when I did the lease on the Pikey on Sunset,” says Kadosh. “That property was the Horse and the Coach for 50 years, and we came in and completely renovated it. Ultimately, everyone was happy because we renovated the property and upgraded it. They made it more accessible. I think that is the case here too.”

1933 Group is currently working on the renovation. Kadosh anticipates the new spot will open in the fourth quarter of 2018.