4/13/13
Downtown L.A. drive-in theater finds a new home - latimes.com
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Downtown L.A. drive-in theater finds a new home
After losing its home atop a parking structure set for development on Broadway, Electric Dusk
Drive-In ends up at the site of another project on San Julian Street.
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la n dlor d, Pet er Flem in g , a t t h e for m er sit e of t h e Sa n Pedr o St r eet Pr odu ce Ma r k et , w h er e a pr oject t h a t
m a y in clu de a colleg e, h ot el, offices a n d a pa r t m en t s is pla n n ed. (Lu is Sin co, Los A n g eles T im es / A pr il 9 ,
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By Roger V incent, Los Angeles Times
14865.06
-0.08
April 10, 2013 ,5:00 p.m .
NASDAQ
3294.95
-5.21
A fledgling rooftop drive-in theater in downtown Los Angeles
— a recent cause celebre for urbanites — has landed safely on
its wheels after getting booted from its home atop a parking
structure in the historic core.
S&P500
1588.85
-4.52
QUOTE: Sy m bol or Nam e
To make way for a new skyscraper on Broadway, Electric
Dusk Drive-In, where fans assemble in cars and lawn chairs
to watch classic movies on a big inflatable screen, is moving
to the site of another planned mega development on San
Julian Street in the fashion district.
Just last month it looked like curtains for the young business
when its landlord on Broadway announced that it was time
www.latimes.com/business/realestate/la-fi-0411-property-report-20130411,0,7916074,full.story
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blighted by city 's ills |
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4/13/13
Downtown L.A. drive-in theater finds a new home - latimes.com
for tenants to leave so that the building could be demolished.
Stories about the theater's plight in The Times and local
blogs brought relocation offers from local property owners,
said Eric Heusinger, co-owner of Electric Dusk.
FHA m ay need $9 4 3 -m illion bailout
"I wanted to preserve that activity for the community," the
drive-in's new landlord, Peter Fleming, said. "It would be
dreadful to lose that."
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Fleming is president of City Market, an ambitious 3.3million-square-foot development that would include a
college, hotel, offices and apartments. It could cost as much
as $1 billion and rise on 10 acres roughly between San Julian,
San Pedro, 9th and 12th streets.
Photos: Holly wood's
Chinese Theatre
But construction is at least two years away, Fleming said.
Until then and perhaps long beyond, theater-goers will have a
ground-level view of the downtown skyline behind the big
screen on the City Market campus, Fleming said. First to be
screened will be the 1990 gangster flick "Goodfellas" on April
27.
Although Broadway has some of the best old buildings in Los
Angeles, the former home of the drive-in and other small
businesses is what is known in real estate circles as "a dog."
The drab 1980s structure houses shops at street level with
parking on the roof.
Iconic hot-rod company
driv ing in new
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"It's an eyesore," said developer Izek Shomof, who recently
paid more than $10 million for the parcel on 4th Street
between Broadway and Spring Street.
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Shomof, who has redeveloped several historic properties in
the neighborhood, plans to knock this building down and
construct a residential tower in its place. It will probably be a
400-unit condominium building rising more than 20 stories,
Regus.com/Office_Space_Online_Of he said.
fer
The new building would cost more than $50 million. It's still
in the planning stages, but he hopes to start construction within two years.
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Although the drive-in has been driven out, he said, "Broadway is coming up big time."
'T onight Show' landlord still wants Leno
Jay Leno is welcome to stick around Burbank after "The Tonight Show" departs for New York next
year, his landlord said, but the loss of the show will not wound the local entertainment real estate
market.
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"We love having 'The Tonight Show' and specifically Jay Leno on the lot," said Jeff Worthe,
president of Worthe Real Estate Group, which owns the former NBC lot where the show has been
filmed for four decades.
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If Leno wants to host another television show, Worthe said, "he is more than welcome to do it on our
property."
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Worthe expressed dismay that the state of New York recently approved tax breaks worth millions of
dollars that apply only to established out-of-state programs such as "The Tonight Show."
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"It's a political issue worth looking into later," Worthe said.
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NBC will also have to pay a price for letting "The Tonight Show" walk out of 3000 W. Alameda Ave.
before its lease is up, the landlord said.
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The Times reported in 2010 that NBC would rent Studio 11 for recording the show and Studio 9 for
rehearsal and skits. The show may be leaving, but there is still money owed under the eight-year
lease, which started in 2011: At the time, real estate experts valued the lease at $35 million.
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NBC "would have to terminate their lease with a penalty," Worthe said. He did not disclose how
much the penalty might be.
A spokeswoman for NBCUniversal said the company would have discussions with the landlord in the
www.latimes.com/business/realestate/la-fi-0411-property-report-20130411,0,7916074,full.story
2/5
4/13/13
Downtown L.A. drive-in theater finds a new home - latimes.com
near future.
Entertainment businesses move frequently, and the Los Angeles region remains the hub of the
action, Worthe said. The departure of "The Tonight Show" will not hurt the region financially.
Video
"It's just one show," Worthe said. "Do you know how many TV shows are out there?"
Kerlan-Jobe clinic is downsizing its offices
The Kerlan-Jobe Orthopaedic Clinic, a sports medicine pioneer, has renewed its office lease on the
Westside but will give up a third of its space.
Kerlan-Jobe moved to Los Angeles with the Dodgers in 1955 and forged the practice of what is now
commonly known as sports medicine. Clients include the Lakers, Angels, Kings, Ducks, Sparks, USC
and the PGA's men's and senior golf tours.
Terms of the agreement to rent 60,000 square feet were not disclosed, but the landlord of the
building at 6801 Park Terrace Drive in Howard Hughes Center asks for nearly $4 a square foot
monthly, according to real estate data provider CoStar. Real estate experts familiar with the
Westside valued the deal at more than $25 million.
The five-story building near the San Diego Freeway is owned by Healthcare Realty Trust Inc. and
has been Kerlan-Jobe's main campus since the building opened in the 1990s, said broker John S.
Wadsworth of Colliers International.
The 30,000 square feet to be vacated by Kerlan-Jobe will be offered to new medical tenants.
"Medical providers, large and small, have all been, and will continue to be, impacted by health
reform, with the most significant mandate being that providers deliver care more efficiently and cost
effectively," Wadsworth said.
In an environment of declining patient revenues, "there is more pressure on revenue and bottom
line," he said, "so all aspects of the care delivery model are being scrutinized like never before,
including real estate decisions."
roger.vincent@latimes.com
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