- With our home offices in North Hollywood since 1994, DMC Real Estate is the dominant commercial Real Estate Brokerage in this neighborhood. Much of the Real Estate we’ve helped investors purchase or sell has been in North Hollywood. Ever since the MTA built the first station for the red-line on Lankershim & Chandler, the North Hollywood area has seen extraordinary growth. The 1-mile radius South of the MTA is the “NoHo Arts District”. The reason as dozens of theaters, dance studios, recording studios, and art galleries call the NoHo Arts district their home.
- The “Noho Arts District” made popular by the local arts and metro as mentioned above could even become more of a focal point of the San Fernando Valley metropolitan hub with the expansion of the MTA. That expansion:
1527 units of new housing, 311 of them (20 percent) affordable
105,000 square feet of retail space and up to 580,000 square feet of office space
The existing bus plaza would be relocated to the west side of Lankershim Boulevard
- Commercial Real Estate has seen a significant increase in values from this increase in metropolitan traffic. The rents for apartments are closer if not more than some areas that historically have been more desirable. Many commuters live in North Hollywood and commute using the MTA subway red-line to Downtown Los Angeles.
- The major commercial corridors in North Hollywood (in order of popularity) consist of (1) Lankershim Blvd., (2) Vineland Ave.,(3) Magnolia Blvd,. (4) Burbank Blvd then (5) Oxnard St. Many buildings along Lankershim Blvd have seen transformation as developers continue to find opportunities to add mixed-use projects or multi-family projects in the areas. An example of this would be 5125 Lankershim Blvd which recently opened an Amazon Fresh.
- North Hollywood is a diverse area with significant sized populations including Latino, Asian American, Armenian American, African American, Jewish, Jamaican American, Middle Eastern, Iranian American, German American, and Filipino American populations.
- Since 2000, the community has been undergoing accelerated multi-family development, thanks mostly to the formation of the 743-acre North Hollywood Development District and the NoHo Commons projects. These efforts attempt to recapture North Hollywood’s historic image and restore the area’s economy. Consequently, North Hollywood’s landscape has been transformed, with condominium towers (including a 15-story building on Lankershim Boulevard) appearing in the midst of older one-story bungalows and small apartment complexes. The community is changing from a suburb-like setting into a metropolitan center. Medium- and high-density developments are being built around the Metro Station, particularly in the NoHo Arts District, with the intent of creating a walkable urban village.
- This walkable urban village boasts Magnolia Blvd, one of the busiest streets in North Hollywood with over 25,000 vehicles driving the street per day which has a walking score of 95. Such a high score means you have no need for a car to get most, if not all errands you face on a day to day done.
- Investors are attracted to North Hollywood’s commercial real estate market due to its strong demand and potential for growth. The area’s favorable demographics (50,000 people within just 1 mile of our office), including a large and growing population and a thriving local economy, make it an attractive option for businesses and investors looking for long-term success.
- To top off the expansion of the MTA and multi family expansion is a recent development and the crown jewel of North Hollywood: Noho West. “NOHO West is a long-awaited retail and entertainment destination in the heart of North Hollywood. This all-new Community Plaza brings the brands and experiences you love close to home and offers a place to celebrate local artistry and color. The architecture and landscaping at NOHO West provide a mix of eclectic LA style, allowing for a truly connected community experience. Enjoy everything from morning coffee to business lunches, date nights or family get-togethers. And spend less time in traffic, giving you more time for the things that really matter. Because NOHO West offers convenience at every turn.” Noho West in the last years has expanded its presence in North Hollywood with additions like Trader Joes, LA Fitness, and a movie theater. Pair these luxuries with an abundance of restaurants to choose from there’s no reason North Hollywood wouldn’t be on someone’s radar for commercial sales and/or leases.
- With much pride, we at DMC Real Estate have a lot of these developers as our clients and we continue to assist the need to add the much-needed housing to the area. When investors need to acquire, sell or consult in Real Estate, for the past 25 years they rely on DMC Real Estate. Contact Simon at (818) 761-4252 ext. 102 for more information.