Gelson’s Markets inks lease at Hines’ Westside project

Supermarket to anchor retail portion of West Edge mixed-use complex

Los Angeles /
Jun.June 04, 2021 11:19 AM
The West Edge development. (Hines)
The West Edge development. (Hines)

Gelson’s Markets will open a 36,000-square-foot store at a mixed-use development on the Westside.

The upscale supermarket chain inked the lease with Hines and the Martin family at its under-construction West Edge complex, Commercial Observer reported.

Gelson’s will operate the store at the base of the planned seven-story residential building. The complex is rising on 4.8 acres at 12101 W. Olympic Boulevard. Work started early last year. The multi-building development will include around 600 high-end apartments, 200,000 square feet of office space and several restaurants, according to the report.

The Martin family proposed the development through its company Philena Properties, and commissioned a team led by Gensler to design it.

The family started shopping a 49 percent stake in the project in 2017, bringing Hines on board later that year in a $200 million-plus deal. USAA Real Estate is also involved.

The development is expected to open sometime next year, according to Hines.

In February, Pan Pacific International acquired Encino-based Gelson’s from TPG Capital, which owned the chain for about seven years. The supermarket has 27 locations across Southern California.

[CO] — Dennis Lynch 


Related Articles

arrow_forward_ios
Richemont Group CEO Jérôme Lambert and 411 N Rodeo Dr (Getty, Google Maps)
Richemont will take over Guess store on Rodeo Drive
Richemont will take over Guess store on Rodeo Drive
The retail development known as The Source was completed in 2016 (The Source)
M+D Properties looks to offload 600K sf mixed-use complex
M+D Properties looks to offload 600K sf mixed-use complex
Culver Steps and Hackman Capital Partners CEO Michael Hackman (Photos via The Culver Steps, Hackman Capital)
Hackman inks Erewhon market to space at Culver Steps
Hackman inks Erewhon market to space at Culver Steps
Eastern Real Estate — led by Brian Kelly and Daniel Doherty, above — and Atlas Capital Group acquired Eagle Rock Plaza (Eastern Real Estate)
450K-sf Eagle Rock mall sells; buyers may add resi complex
450K-sf Eagle Rock mall sells; buyers may add resi complex
2000 Avenue of the Stars and CAA CEO Richard Lovett (Gensler, Getty)
Big talent agency renews big lease at 2000 Avenue of the Stars
Big talent agency renews big lease at 2000 Avenue of the Stars
Pacific Design Center’s Green Building, WeWork’s Elton Kwok, FabFitFun’s Michael Broukim. (Pelli Clarke Pelli Architects, WeWork, FabFitFun)
WeWork keeps focus on larger, “enterprise” tenants
WeWork keeps focus on larger, “enterprise” tenants
Rendering of the project (Triangle Culver City)
Bastion Development plans another apartment complex on Culver City border
Bastion Development plans another apartment complex on Culver City border
LoanCore Capital CEO Mark Finerman and 4707 Venice Boulevard (Google Maps)
Ralphs-anchored Mid-City mall nabs $64M refi
Ralphs-anchored Mid-City mall nabs $64M refi
arrow_forward_ios

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

Loading...