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Echo Park Gentrification Watch: The End Is Nigh

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Four storefronts
--and two of these stores are very large spaces--have opened up on the block of Sunset Blvd between Logan and Lemoyne Ave in Echo Park. 1724 Sunset--- an former discount store offering 5,700 square feet with a huge basement--is asking $15,000 a month ("It would be a good space for a clothing store," says broker Michael Pakravan), while interior and exterior renovations are expected to begin this week on the landmarked Jensen's Recreational building at 1700 Sunset, which is also for lease; Pakravan says they are close to signing a "big tenant" at that space. And while the third-and fourth-floor apartments in Jensen's will stay, the landlord is looking for a tenant, like a "yoga studio, arts studio, or karate studio" for the second floor of Jensen's.

And 1710 Sunset, a 1,000 square foot space is also available. So is 1712 Sunset: "We'd like to do a hip bar or restaurant [there]," he says. A bar would compete with the new beer/wine bar El Prado that opened up across the street. Kiss your cheap clothing stores goodbye, locals.

Listing for Jensens:

Property Description:
Under renovation, the historic Jensen's Recreation Center provides retail tenants the opportunity to locate themselves along one of the busiest thorough fares in Los Angeles; Sunset Blvd provides enormous vehicle traffic and some of the highest levels of pedestrian traffic in Los Angeles. Upon completion, this building will provide tenants a First Class retail identity. PARKING! 3 huge city parking lots are located adjacent this property!

Location Description:
Location, Location, Location! This diverse trade area blends the strong sales of national retailers with local services generating enormous foot traffic and 32,000 cars per day (Sunset Blvd 2006). The building is located among trendy clothing retailers, neighborhood markets, along with dining & entertainment hotspots filled nightly with Echo Park and Silverlake Hipsters.

Ground Floor Units Available – with 16 foot ceilings:

· 1710 Sunset, Inline – 1,000 SF $3.10 psf + $0.14 NNN

· 1712 Sunset, Inline – 2,582 SF $2.75 psf + $0.14 NNN

2nd Floor Retail and Loft Units:

· 113 Logan – 2,708 SF $1.50 psf MG

· 1706.5 Sunset – 2,362 SF $1.50 psf MG

Great 2nd floor space for Art Studio, Creative Office, Fitness, Martial Arts, Yoga, retail clothing and music. Can be combined for 5k+ SF

· 1724 West Sunset [CBM]