LOS ANGELES-The San Diego-based firm HP InvestorsLLC makes its first foray into the Los Angelesmarket with the purchase of BroadwayHollywood, an 11,000-square-foot prime groundfloor commercial condominium on Hollywood Blvd. and VineSt. Kennedy Wilson Brokerage Group sold theproperty to HP Investors for an undisclosed price.

“The location is one of the most dynamic urban retailmarkets in Southern California and perfectly meetsour investment objectives of acquiring urban retail assets that arepositioned for strong growth over the long-term,” saysIsaac Abid, a principal at HP Investors about thepurchase.

Originally built in 1928, the property is located in a vibrantneighborhood only a half block from the famed PantagesTheater. The submarket has long been a primary locationfor nightlife, but has experienced increased commercial tradeactivity in recent years that has brought attention from newinvestors.