Mill Creek Residential has signed a new grocery tenant at a luxury, mixed-use community currently under construction in Hollywood, Calif.
The Boca Raton, Fla.-based company announced Tuesday that it had signed upscale grocers Bristol Farms to a 15-year lease for 23,211 square feet at its Modera Argyle project at 6220 Selma Avenue. The lease was brokered by Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, which did not disclose the rent.
“This new Hollywood location gives [Bristol Farms] immediate access to their target customer, who will be living right upstairs at Modera Argyle, as well as in the dense surrounding neighborhood,” Lee Shapiro, Kennedy Wilson Brokerage’s executive vice president and director of retail, said in a statement.
The property is between Sunset and Hollywood boulevards and features studio, one-, two- and three-bedroom apartments. Once completed next year, Modera Argyle will become Mill Creek’s second luxury apartment community in the area after Modera Hollywood, which is also under construction a few blocks west at 6775 Selma Avenue.
Mill Creek, which had a national portfolio of over 35,000 rental units either currently operating or under construction as of late June, has made other moves in its home state of Florida in recent months.
The company nabbed an $83 million construction loan in September for a second rental building at its Cornerstone at Downtown Coral Springs development in Coral Springs, Fla., near Fort Lauderdale, which is expected to be completed by 2025.
In June, Mill Creek filed plans to build a 31-story apartment tower in Miami’s Edgewater neighborhood. The project, which the company calls Modera North Bayshore, would be just south of the 28-story tower that it sold to Air Communities for $211 million in 2021.
Nick Trombola can be reached at NTrombola@commercialobserver.com.