Regal Ventures has acquired 8500 Sunset Boulevard, a 37,900-square-foot retail condo and 178-space parking garage in West Hollywood, Calif.
The property's retail component is 100 percent occupied by a diversified roster of five tenants: the flagship store of Fred Segal, an American clothing and accessories retail brand; Kith, a New York-based retailer offering premium apparel and footwear; Rumble, a boutique boxing fitness chain; Tesse, a Bill Chait–branded restaurant and wine lounge; and Tia, a female-focused healthcare company.
The purchase price and the identity of the seller were not disclosed.
Located on the Sunset Strip, the asset sits at the base of one of the city's most widely known residential communities, the 190-unit, ultra-luxury AKA West Hollywood.
The property is surrounded by one of Los Angeles' most affluent and highly populated neighborhoods, with more than 786,000 residents living within a five-mile radius.
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