The Hollywood & Highland shopping and entertainment center has been acquired by a real estate partnership that plans to renovate the property, which opened in 2001 and helped lure investment back to the iconic neighborhood.
Even though the parties would not reveal its price, they described it as the largest sale of retail space outside Manhattan since early 2017, when a Las Vegas shopping center sold for $389 million. El Warner, an executive vice president with commercial brokerage Colliers International, called it a vote of confidence in marque retail locations and the Hollywood market.
Stenn Parton, chief retail officer at DJM, declined to reveal specific tenants that the group wanted to bring into the 463,000-square-foot complex, which is now home to national brands like Johnny Rockets, Foot Locker and Guess. He said the goal was to take the retail and restaurant offerings to the “next level” and lure tenants that have global appeal, but also reflect Los Angeles.
Cost overruns and delays drove up the price. The complex opened to mixed reviews, toward the end a recession and amid uncertainty following the September 2001 terrorist attacks.
Those in the know, know. That thing in the photo, that building, whatever that is, looks remarkably similar to the home of someone in Las Vegas who is either The Mayor, or Harry Reid, or a Senator... I forget who, but not what... hmm Must be What-Not, and, I'm not in the know.
whoa...
it’s about time! if i was a tourist, i would’ve been disappointed hollywood doesn’t appear like it does in the movies.
A Times Square of the west 👎
Has anybody at LAT actually ever been to Hollywood and Highland Center, or are you just taking their talking points at face value? *cough cough, 2024, cough*
No one cares.