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August 12, 2020 Comments Off on $95M Venice MXU Development Site Hits Market Views: 962 California News, Los Angeles

$95M Venice MXU Development Site Hits Market

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A prime mixed-use hotel, live-work condominium, and retail development site in the heart of Venice Beach is being marketed for sale by CBM1. The multi-site, $95-million investment opportunity combines two lots, one at 812 Main St. and another at 910 S. Abbot Kinney, to create a roughly 130,000-square-foot development.

The project includes a 43-suite luxury boutique hotel and nine condominium homes, five of which are incorporated into the hotel at 812 Main St., with the remaining four residential units are situated across the street at 910 S. Abbot Kinney, and positioned as live-work lofts. Additional components include a 23,350-square-foot retail building, along with a multi-level underground parking facility with roughly 250 spaces.

CBM1’s Geoff Grossman is handling the listing for a site at the gateway to the fashionable Abbot Kinney retail shopping district. Grossman says, “This is one of those rare investment opportunities that comes to fruition, despite everyone proclaiming: ‘It can’t be done!’”

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