April 15, 2021 #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.

 

Related Posts

Westside Cafe Helping Save Monarch Butterflies

April 13, 2021

April 13, 2021

This Westside cafe is doing its part to keep its namesake insect, the monarch butterfly, safe. Learn more in this...

Virtual Venice Art Crawl This Week

April 13, 2021

April 13, 2021

Singers, poets, painters, photographers, performance artists and gallery owners are all scheduled to participate in the virtual Venice Art Crawl...

Junior Lifeguards Returning to Venice Beach This Summer

April 13, 2021

April 13, 2021

County-run program returns to LA County beaches July and August  By Sam Catanzaro A few weeks are left for prospective...

Beached Dolphin Near Venice: YO! Venice Show – April, 12, 2021

April 12, 2021

April 12, 2021

Local news and culture in under 5 minutes. * Beached Dolphin Near Venice Beach * Fareless rides coming to LA...

SWAT Tear Gas Trailer in Seven-Hour Venice Standoff

April 12, 2021

April 12, 2021

Standoff between police and barricaded suspect over the weekend at First Baptist Church By Sam Catanzaro  An over seven-hour standoff...

Westside Business Spotlight: The Bike Shop California

April 9, 2021

April 9, 2021

Today on the Westside Business Spotlight we visit The Bike Shop California, your neighborhood spot for all things bike-related.

‘Next-Generation’ Pudding Comes to Venice

April 8, 2021

April 8, 2021

Pudu Pudu opens on Abbot Kinney By Kerry Slater A dessert shop specializing “next-generation” pudding has come to Venice  Pudu...

Venice Beach Handball Courts Set to be Cleared Out

April 8, 2021

April 8, 2021

Due to an encampment at the courts LA City has posted its intent to clear out the area on April...

Food Review: An Almost-Essential Westside Sandwich

April 8, 2021

April 8, 2021

Johnnie’s french dip pastrami sandwich in Culver City  By Kerry Slater  While there are far better sandwiches in Los Angeles,...

Foster Youth Staffed Cafe Set to Open on First California Shop

April 6, 2021

April 6, 2021

La La Land Kind Cafe to open in former Starbucks space  By Toi Creel  A Texas-based cafe that makes an...

Venice Japanese American Memorial Monument Committee’s Annual Commemoration

April 6, 2021

April 6, 2021

Annual event to be held virtually Thursday April 15 Submitted by the Venice Japanese American Memorial Monument Committee Standing at...

Davy Jones Liquor Locker Closes Down: YO! Venice Show – April, 5, 2021

April 5, 2021

April 5, 2021

Local news and culture in under 5 minutes. * Suspect Arrested with Concealed Pistol Near Boardwalk * Davy Jones Liquor...

Edify TV: Helping Local Cultural, Religious and LGBTQ+ Centers

April 5, 2021

April 5, 2021

Westside cultural, religious and LGBTQ+ centers stand to benefit from a new fund the City of Los Angeles has created...