CBM1’s Geoff Grossman is proud and excited to announce the offering of hotel, live-work condominium, and retail development opportunity for sale in the heart of Venice Beach. Impeccably well-located, the site is situated at the gateway to the fashionable Abbot Kinney retail shopping district. High-end retail brands located along Abbot Kinney’s exclusive shopping corridor include Aviator Nation, Australian cosmetics brand, Aesop, Gant, American watchmaker Shinola, and eyeglass giant Warby Parker. The site is also positioned at the epicenter of Silicon Beach, home to a retinue of top tech and media companies, and cutting-edge startups. Area firms include SnapChat, Google, and Vice Media, along with numerous startups, such as Zipstact, GoGood, and Stokeshare, to name a few.
The multi-site investment opportunity combines two lots – 812 Main + 910 S. Abbot Kinney – to create an approx. 130,000 SQFT development. The complete project includes a 43-suite luxury boutique hotel and 9 condominium homes (5 of which are incorporated into the hotel at 812 Main Street, with the remaining 4 residential units situated across the street at 910 S. Abbot Kinney, and positioned as live-work lofts) for a total of approx. 25,750 SQFT, in addition to an approx. 23,350 SQFT retail building, along with a multi-level underground parking facility with approx. 250 spaces.
812 Main Street can be purchased separately and includes plans and shovel-ready entitlements for development that includes a 3-story, 43-suite boutique hotel and 5 condominium homes, which incorporates an approx. 3,400 SQFT roofdeck, swimming pool, and 2-level underground parking garage.
910 S. Abbot Kinney can also be purchased separately. The site includes an approx. 21,318 SQFT lot with an existing approx. 9,442 SQFT retail building currently leased to SNAP Inc, which serves as the headquarters for the popular smartphone App, SnapChat (a leasehold asset that earns an annual NOI of approx. $1.86 million). Alongside the existing building, the lot offers ample space to construct an additional approx. 15,500 – 22,000 SQFT structure.
“This is one of those rare investment opportunities that comes to fruition, despite everyone proclaiming: ‘It can’t be done!’,” says CBM1’s Geoff Grossman. But a bit of savvy research revealed such a development is possible in Venice. A revelation that resulted in the assemblage of these two sites and the now shovel-ready development opportunity. “There’s NOTHING like this [hotel, live-work condo + retail development] in Venice,” Grossman says, adding “there are high-end accommodations available to the north in Santa Monica, and to the south in Marina Del Rey. But not in Venice. And it’s a GOLDMINE opportunity for the right investor.”
For additional information about this exceptional investment opportunity, contact Geoff Grossman – email@example.com.