LOS ANGELES-The San Diego-based firm HP Investors LLC makes its first foray into the Los Angeles market with the purchase of Broadway Hollywood, an 11,000-square-foot prime ground floor commercial condominium on Hollywood Blvd. and Vine St. Kennedy Wilson Brokerage Group sold the property to HP Investors for an undisclosed price.

“The location is one of the most dynamic urban retail markets in Southern California and perfectly meets our investment objectives of acquiring urban retail assets that are positioned for strong growth over the long-term,” says Isaac Abid, a principal at HP Investors about the purchase.

Originally built in 1928, the property is located in a vibrant neighborhood only a half block from the famed Pantages Theater. The submarket has long been a primary location for nightlife, but has experienced increased commercial trade activity in recent years that has brought attention from new investors.