This chic downtown Los Angeles restaurant, lounge and bar with a successful concept boasts a lovely, modern build-out that originally had $1 million invested in it. The venue has an indoor / outdoor flow to its patios, which significantly add to its European ambiance. The business caters to a somewhat built-in client base of urban professionals in the daytime, which include attorneys, consultants, accountants and bankers. In the evenings and on weekends it serves nearby high discretionary income residents. This venue has spacious lounge and patio areas, as well as a large kitchen and a sizeable walk-in with plenty of storage space.
This 3,300 square foot facility with a large parking garage leases for $8,365 per month plus approximately $1,500 in common area maintenance (CAM). The sale includes all of the business’s furniture, fixtures and equipment, liquor license, and use of its name during a one year transition period. The lease in this coveted location is valid until December 2018, with one ten-year option.
This restaurant does face competition as Downtown Los Angeles has become a competitive market for daytime dining and evening revelry. This venue’s unique location, however, provides it a somewhat built-in high end customer base and catering / take-out market on weekdays, which provide it a unique competitive advantage that would be difficult to replicate.
Given this restaurant’s success, while it could thrive under any number of concepts, it would likely make sense for new management to maintain operations as is, and simply focus on bolstering its delivery and catering business, while promoting its bar and lounge to the happy hour crowd or to weekday evening and weekend revelers.
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