Vacancies on rise on Blvd. and nearby
UP AND DOWN LARCHMONT BOULEVARD, “For Lease” signs are becoming as numerous as scooters.
As reported in previous months, there have been a number of retail and other commercial spaces that appear vacant or “For Lease” along Larchmont Boulevard and in the immediate neighborhood. Although the situation has predated COVID-19 closures, the pandemic clearly is having an additional negative effect on tenants and landlords.
Restaurants and retail stores, if back open, have experienced reduced customer visitation. Many existing office tenants have concluded they can operate with less rental space because some staff actually can work productively from home.
A count at the end of last month updates the Larchmont Chronicle’s previous prediction of vacancies at the end of this year. If the spaces that we have researched that are vacant — or are about to become vacant — remain that way, there could be 38 vacancies on and adjacent to Larchmont Boulevard at the end of this year.
In the Village between First and Beverly, along the west side of the street, there are five empty spaces: next to Village Pizzeria is the still-vacant 133 N. Larchmont Blvd. (which once was set to become a Face Haus store, and maybe still is); the former Goorin Bros. space at 141 1/2 N. Larchmont Blvd.; the old Flywheel space at 147 N. Larchmont Blvd.; and the two spaces in the building north of Vernetti at 227 and 229 N. Larchmont Blvd.
On the east side of the street, there is a vacancy at 120 N. Larchmont Blvd. (the former LF).
Larchmont Mercantile
Also on the east side, it seems evident that there will be 15 vacant spaces in the former LaBonte Building at the end of the year. That building is scheduled to become the upscale “Larchmont Mercantile” creation of Malibu real estate investor Lawrence Taylor’s company, Christina. Existing tenants in the building have reported that they must vacate by the end of this year.
North of Beverly
North of Beverly Boulevard, on the east side of Larchmont, there is a “For Lease” sign on the building at 444 N. Larchmont Blvd. Nearby, 506 N. Larchmont Blvd. is vacant, and 550 N. Larchmont Blvd. seems to have two spaces for lease. There also are vacancies in the four-story office building at 606 N. Larchmont Blvd., and the retail spaces at 652, 658 and 660 N. Larchmont Blvd., at the intersection with Melrose, are vacant.
On the west side of Larchmont, the bungalow at 531 N. Larchmont Blvd. has a “For Lease” sign, as does the bungalow at 585 N. Larchmont Blvd. The former Hans Weisshaar building, with the ornate violin sign at 627 N. Larchmont Blvd., continues to have space available.
Along Melrose Avenue, the Le Petit Marché space at 5665 Melrose Ave. is still available for lease, as are 5750 Melrose (formerly Fin Asian Tapas Bar).
The Chronicle has yet to hear of landlords lowering high rents.
By John Welborne and Helene Seifer
Category: Real Estate