December 3, 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.

 

Tags: in Opinion
Related Posts

Opinion: “Millionaire Mike”

December 2, 2021

December 2, 2021

A myth and legend of the left, what does Bonin actually have in common with LA’s homeless? By Nick Antonicello ...

Opinion: I Am My Brother’s Keeper

November 23, 2021

November 23, 2021

By Nick Antonicello I spoke with Bruno Hernandez, the executive director of Be Creative/STP Foundation as well as The Venice...

Opinion: SB 9, 10: The Rebellion Begins

November 19, 2021

November 19, 2021

By Tom Elias, Columnist It was inevitable from the moment Gov. Gavin Newsom in mid-September signed this year’s two most...

Opinion: Recall Movement Seeks Signature Verification, but Will Bonin Strike Back With Litigation?

November 18, 2021

November 18, 2021

By Nick Antonicello It is no small feat for a band of community volunteers seeking real political change to spend...

Opinion: Recall Files 39,188 Signatures to Boot Bonin From the LA Council!

November 11, 2021

November 11, 2021

By Nick Antonicello  The Committee to Recall LA Councilman Mike Bonin filed 39,164 signatures today with the LA City Clerk’s...

Opinion: Ten Reasons Why Mike Bonin Must Be Recalled!

November 8, 2021

November 8, 2021

By Nick Antonicello There will be a successful recall of Councilman Mike Bonin (CD-11) and the reasons are in the...

Sacto Dems Dump Prop. 13 Reforms

November 5, 2021

November 5, 2021

By Tom Elias, Columnist For more than 40 years, Democrats in Sacramento have talked fervently about reforming the 1978 Proposition...

Opinion: Housing, Homelessness and the Empty Rhetoric of LA Mayoral Hopefuls Looking to Replace Eric Garcetti!

October 19, 2021

October 19, 2021

For who will help Venice get rid of Mike Bonin? By Nick Antonicello There is an obvious “disconnect” between this...

Opinion: How Low Can You Go?

September 20, 2021

September 20, 2021

By Nick Antonicello Instead of discussing the issues people really want to talk about like Councilman Mike Bonin’s miserable record...

Opinion: Recall Or Reelection: That’s The Choice For D-town Voters When It Comes To Incumbent Mike Bonin

September 16, 2021

September 16, 2021

By Nick Antonicello There was good news for embattled incumbent Councilman Mike Bonin yesterday in that Governor Gavin Newsom not...

Opinion: Ten Reasons Why the Venice Boardwalk Got Cleaned Up

September 15, 2021

September 15, 2021

By Nick Antonicello After years of neglect and outright incompetence when it came to the maintenance of Venice’s Oceanfront Walk...