The state of California, including Los Angeles, continues to offer a wellspring of opportunities for those interested in mixed-use properties. In San Francisco, construction is expected to soon start on a new mixed-use project that will stand six stories tall and feature residential, restaurant and retail spaces. Just a few important permits are necessary before the construction phase can begin and commercial leases are offered.
The area being developed was the site of a McDonald’s restaurant in recent years. Now, instead of seeing golden arches there, passersby will start to see a building that spans 150,000 square feet and features ritzier food and beverage options. Restaurants and retail shops will be on the ground floor, and there will also be 20 hotel rooms and 77 apartments sold at market rates. Three floors will also be dedicated to underground parking.
No formal schedule related to the beginning of construction currently exists. However, the developers of the site, known as 1380 California, currently have the majority of the permits needed to commence building, which will first include demolishing the old McDonald’s building. The project’s last design review took place on Sept. 20.
Business owners in Los Angeles may benefit from new opportunities to sign commercial leases in this area of the state. The right spots can help them to draw more customers and ultimately buttress their bottom lines. However, choosing the right spot is only half the battle, with the other half having to do with lease negotiations. An attorney can help with reviewing and negotiating a lease to ensure that one’s rights and best interests are protected before one signs on the dotted line.
Source: eastbaytimes.com, “Walnut Creek mixed-use project to push out old McDonald’s“, Sam Richards, Sept. 26, 2017