Concern over rising commercial rents, also recently seen in Larchmont, is chronicled in this month's Los Feliz Ledger. Rosetta Stone Gallery, which has been on Hillhurst Avenue for 22 years, likely will shut down in November, while Chi Dynasty narrowly avoided closure. And other shop owners are fretting about the rents. Los Feliz Village Business Improvement District president Dora Herrera tells the paper she is going to ask Councilmember Tom LaBonge (hello again, Tom) to set "Q" conditions to limit the size and type of businesses.
One thing the lovely story doesn't tell us: What are the rents? We called up Denise Saker, owner of Rosetta Stone. "For a 1,100-1,200 square foot store, you can expect to pay $3,500-$4,100 a month," says Saker. She blames the rising rents on "corporate guys" who come in, buy buildings and jack up the prices.
· Rising Rents Squeeze Small Business in Los Feliz Village [LFR]
· Prosperity threatens a Larchmont landmark [LA Times]