A Sign of the Times: “For Lease”

For the first time in over a year there are storefronts available for lease in all five business districts in Pacific Palisades, which should mean an influx of new retailers and professionals in 2005. PALISADES VILLAGE The former Palisades Camera store, located at 1014 Swarthmore, is renting for $4.50 a square foot. Leasing agent Gregg Pawlik of Coldwell Banker told the Palisadian-Post that he has had inquiries to turn the 1,060-sq.-ft. space into, among other things, ‘a nail salon’ and ‘an upscale women’s dress shop.’ The space is owned by Palisades Partners, the largest landowners in the Village. Besides owning all but four storefronts on Swarthmore north of Sunset (Whispers, Fernworks, Paliskate, and Billauer-Sato Chiropractic), as well as the adjacent parking lot, the group representing four family trusts owns property in the 15200 block of Sunset, currently leased to U.S. Bank, The Nest Egg, Palisades Office Products, Self Center Skin Care Salon and Pearl Dragon. Palisades Partners’ large storefront at 1045 Swarthmore, the former site of Emerson-LaMay Cleaners, has been vacant since April 2003 and is available for $4.25 a square foot. Pawlik has had inquiries ranging from ‘a restaurant’ and ‘a furniture store,’ but no decisions have been made as the owners want to ‘ensure that any new businesses are compatible with businesses that already exist on the street.’ Three-to-five-year leases are available on both sites. On the main floor of the Blockbuster business building at 970 Monument, 950 sq. ft. is available for retail or food only. Leasing for $3.95 a square foot, the space is located in what is left of the former Contentment site. Pasha Sushi & Cafe leased 3,500 sq. ft. last September and will open a restaurant later this year that sells only organic meals and organic products, including bread, coffee and seaweed. Across Sunset, in the Washington Mutual building, an office on the second floor (1,150 sq. ft. at $3 a square foot), ‘has just become available,’ said Darren Bell, vice-president of leasing for Topa Management, which owns the building. Bell said Topa also has office space in the Business Block building located at 15300 Sunset (1,510 sq. ft. at $2.50), as well as two small offices at 15415 Sunset, above Jacopo’s Pizza (287 sq. ft. and 350 sq. ft., both leasing for $3). Bell said all Topa leases in the Palisades at this time are ideal for small businesses, such as ‘CPA’s, attorneys, real estate agents, people who don’t need much space.’ The former BOCA Woman site at 15260 Antioch remains empty, following the store’s move to it’s new location at 1022 Swarthmore in November. Owner Michael Mangimelli said he and his wife, Denise, have not yet decided what to do with the Antioch site, where they still have a five-year lease. The couple also owns BOCA Man at the corner of Swarthmore and Antioch. SUNSET AND PCH The large commercial building at 17383 Sunset (corner of PCH), which houses the Spectrum Club, changed hands in September. The new owners are ECI Sunset, LLC. Madison Partners, which manages the building, confirmed that space is available and can be divided to suit most office and retail needs. Spectrum, which has 3,000 members, will occupy 26,000 sq. ft. in the complex when renovations are complete in June. Just a block up Sunset in Sunset Pacifica, a mixed-use building (office/residential) which houses Pro Train, a 1,400-sq.-ft. office space off the main lobby is leasing for $3,800 a month. PALISADES HIGHLANDS A sublease is available immediately on the We Frame It store in the Highlands Plaza just above Sunset. While Greg Eckhardt, who manages the mini-mall at the base of Palisades Drive for PAR Commercial Property, said there have been many inquiries about the 1,240-sq.-ft. space which is leasing for $2.50 a square foot, they have been for ‘conflicting use. We cannot put another nail salon or Mail Boxes-type store in there, nor a third restaurant because we wouldn’t have enough parking.’ Eckhardt said that the framing store will stay open until ‘a new tenant can be found. We are looking for just the right retailer.’ Asked what was ideal, he thought ‘a women’s boutique or accessory shop. Perhaps a shoe store or a hair-cutting place for children, like Yellow Balloon in Santa Monica.’ MARQUEZ VILLAGE The former Marquez Market, which closed at the end of December, is renting for $2.75 a square foot. So far, Pawlik has had inquiries to use the 2,500-sq.-ft. space ‘as a toy store, a personal training center, and for a gourmet market.’ Asked if Trader Joe’s might be interested, Pawlik said, ‘No, it’s too small for them.’ Also available in the Marquez Village is the former D & T Studio (previously known as Dance & Twirl), which vacated the premises at the end of December. Accessed through the alley, below Marquez Avenue, the 2,000-sq.-ft. space is leasing at $1.90 a square foot. Owner Don Haselkorn would like to see ‘another dance studio, a workout center or perhaps art classes would be good in there.’ SANTA MONICA CANYON Two storefronts are available half a block from the beach. One is 145 W. Channel Road, adjacent to Cafe Delfini, which formerly housed LJK Interiors. Across the street is MLK Studio (formerly Brown Architecture) which is also being prepared for lease. Prices were not available.