October 2, 2023 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Abbot Kinney Boom Continues

Wednesday May 13, 2015 – 9:23am

Privately-funded real estate investment and development firm, Ness Holdings, Inc. recently announced that they had acquired  “a single tenant restaurant on the “hottest” street in Los Angeles, Abbot Kinney Blvd in Venice, CA”.

The single tenant site currently houses Wabi Sabi Sushi restaurant, and is located at 1637 Abbot Kinney Blvd. in Venice. The building was purchased for $7.4 million.

Ness Holdings acquired the property due to its in-demand location. Wabi Sabi is one of only a few restaurants with a CUP license as well as a Type 47 liquor license and Ness Holdings believes this will be a huge incentive for any future tenant.

Current tenant Bruce Horwitz told Yo! Venice that Wabi Sabi is no longer profitable. The restaurant will soon close joining a slew of other local favorites who have closed their doors, like Hal’s and Casa Linda.

Horowitz who is also responsible for popular restaurant Tasting Kitchen has a future Venice development planned on Rose Ave and will not be staying at the Wabi Sabi site.

Ness Holdings plans to reposition the property and bring in a new high-end restaurant or convert it into a high fashion retail store.

Steven Taylor, Founder of Ness Holdings, Inc., commented, “There is very limited availability on Abbott Kinney, especially for establishments with a Type 47 liquor license. It’s also one of the few free-standing properties on this booming street in Venice. We’re excited for this acquisition and confident about the continued growth prospects of Abbot Kinney.”

Bountiful VeniceSign of the times: Bountiful on Abbot Kinney will soon join others, like Hal’s and Casa Linda, and move on.

 

Tags: in Opinion
Related Posts

New Program Can Help Protect Southern California Homes in the Event of an Earthquake

May 13, 2023

May 13, 2023

Residents Have Until May 31 To Apply For Seismic Retrofit Grants By Janiele Maffei, Chief Mitigation Officer for the California...

Venice Shorts: Tree Trimming Underway Thanks to the Vsa!

April 28, 2023

April 28, 2023

VSA Has Taken up the Task of Trimming Italian Stone Pine Trees. By Nick Antonicello Following the recent toppling of...

Venice Stakeholders Association’s Comments on Traci Park’s Broken Bridge Housing Promise

April 24, 2023

April 24, 2023

By Marc Ryavec I have been struggling with how to address the phenomenon that someone I and many others in...

Column: Tired OF Declinists? Some Enduring New California Positives

April 18, 2023

April 18, 2023

By Thomas D. Elias California has taken a beating lately, with (mostly Republican) governors of other states blasting many aspects...

Venice Shorts: The South Venice Blvd Encampment, Is It a Candidate for a City Cleanup?

April 14, 2023

April 14, 2023

One of the last of the large encampments closest to the beach, Venetians are hopeful help is on the way!...

Venice Shorts: Averill Defeats Tyminski 63%-37% to Become President of Venice Neighborhood Council

April 3, 2023

April 3, 2023

In second bid for top spot, surfer/photographer Brian Averill coasts to an easy win against Venice attorney and outgoing Vice-President...

Column: Install at LAX Tiny Homes From The State Grant

March 31, 2023

March 31, 2023

By Clark Brown On March 16  Governor Newsom announced in Sacramento, his first stop on his State of the State of...

Venice Shorts: Night & Day – Flower & Lincoln Transformed, Back in Business

March 28, 2023

March 28, 2023

By Nick Antonicello In what was a Venice eyesore just a few months ago has been transformed into a place...

Opinion: Please Vote for Daffodil Tyminski

March 25, 2023

March 25, 2023

This is Tom Williams, your neighbor at 1011 Main Street.  With the upcoming VNC election this Sunday, I wanted to reach...

Venice Shorts: Popular Local Jim Robb Seeks Vp Slot, Endorses Brian Averill for President of the VNC!

March 23, 2023

March 23, 2023

By Nick Antonicello  VENICE – In a twist of events longtime Community Officer Jim Robb will now be seeking the...

Venice Shorts: Tabor Family Legacy Amara Hordt Seeks Seat on VNC This Sunday!

March 22, 2023

March 22, 2023

Local realtor looks to follow a family legacy of engaged community involvement here in Venice By Nick Antonicello VENICE –...

Venice Shorts: Erica Moore, A Cheerleader For Venice In Her Run For Community Officer!

March 22, 2023

March 22, 2023

By Nick Antonicello VENICE – Local caterer Erica Moore is making a second run for the Venice Neighborhood Council, but...

Venice Shorts: Running Unopposed, Nico Ruderman’s Deep Dive Into Politics and Government Continues!

March 22, 2023

March 22, 2023

By Nick Antonicello VENICE – It has been an interesting two years of political action, involvement and advocacy for Nico...

Venice Shorts: “V” for Venice Volunteer

March 20, 2023

March 20, 2023

Media professional, local business owner and Dad, Eric Alan Donaldson is defined by his volunteerism and love of Venice. By...

Deborah Keaton, a Consensus Building Candidate for VNC Community Officer!

March 20, 2023

March 20, 2023

Creative director, global brander and private business owner seeks a general consensus on what’s best for Venice moving forward.  By...