A choice restaurant space near The Grove is available, but has a history of high turnover. Since 2013, three restaurants rotated in-and-out of the property on Beverly Boulevard and Gardner. The owners want to make a new tenant work, but for a hefty price. To start, the 3,800 square foot space has a monthly rental price of $22,000 per month.
Chef Michael Hung took over the restaurant and market to launch XO, which lasted only six months. Neither the prime location, nor a notable name were enough to save Stir Market. The all-day eatery had a two-year run with the backing of chef Jet Tila. Prior to that was Buddha’s Belly. The Pan-Asian restaurant wins the title for the longest running restaurant, from 2005 to 2013.
The leasing agents require a five-year option that includes a beer and wine license, and 30 parking spaces. To make the leap, a new tenant will need $125,000 up front. Interested parties can find information here.