Two-Buck Chuck time: Venice set to get first Trader Joe’s

The grocery chain recently signed a lease in NoHo

TRD LOS ANGELES /
Jan.January 25, 2019 01:00 PM
Trader Joe’s CEO Dan Bane

Trader Joe’s is coming to Venice, another indicator that the Westside neighborhood has reached true gentrified status.

The tiki-nautical themed grocery store chain has filed plans for a new 15,000-square-foot retail store on Lincoln Boulevard in Venice, according to new documents published with the Department of City Planning.

It would be the first Trader Joe’s in Venice, and the fifth on the Westside. The chain also recently signed a new lease for a 16,000-square-foot store in North Hollywood.

Trader Joe’s applied for a beer and wine license for the Venice location earlier this week, according to city filings.

The new store might do more than just increase grocery options in Venice. A 2016 report by Zillow found that homes appreciate more rapidly if they are located near a Trader Joe’s or Whole Foods. The study showed that, between 1997 and 2014, homes near the upscale grocers were consistently worth more than the median nationwide home.

Planning documents reveal the auto shop and plant nursery existing at 620 South Lincoln Boulevard would have to be demolished in order to make space for the store. Architecture firm Van Tilburg, Banvard & Soderbergh, which ranked second on The Real Deal’s top architects of 2017 list, is designing the store.

The property is owned by boutique firm Roque & Mark Real Estate, property records show. They recently bought the site through an LLC named Lincoln LT.

Founded in Monrovia, Trader Joe’s has 11 locations in Los Angeles, and more than 470 stores in the U.S. The grocer will have 14 stores in L.A. County once it opens its planned stores in Marina del Rey, North Hollywood and Venice.


Related Articles

arrow_forward_ios
California State Senator Scott Wiener and Construction Trades Council President Robbie Hunter

Construction union pulls “anti-Semitic” Scott Wiener attack ad

Construction union pulls “anti-Semitic” Scott Wiener attack ad
Federal authorities charged developer Serena Shi in an alleged $20 million EB-5 scam

Coachella condo project at center of $20M alleged EB-5 fraud

Coachella condo project at center of $20M alleged EB-5 fraud
California State Senator Scott Wiener

Coronavirus could hurt LA’s density push

Coronavirus could hurt LA’s density push
Councilmember Mike Bonin and the Ellison (Credit: Google Maps)

Venice landlord says city is using the coronavirus pandemic to settle a score

Venice landlord says city is using the coronavirus pandemic to settle a score
Renters across LA are at their wits end with construction and renovations (Credit: iStock)

LA renters stuck at home are fed up with ‘disruptive’ construction projects

LA renters stuck at home are fed up with ‘disruptive’ construction projects
Mayor Eric Garcetti and SoFi Stadium Justin Sullivan and Scott Varley/MediaNews Group/Torrance Daily Breeze via Getty Images)

LA will shut down construction sites that don’t follow COVID-19 guidelines

LA will shut down construction sites that don’t follow COVID-19 guidelines
NeueHouse is preparing to open Venice co-working space

NeueHouse is preparing to open Venice co-working space

NeueHouse is preparing to open Venice co-working space
Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

Boyle Heights slated for another mixed-use project

Boyle Heights slated for another mixed-use project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...