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The Hollywood Palladium Is Up for Sale

The iconic concert venue could bring in up to $60 million, according to the Hollywood Reporter.

The Hollywood Palladium is hitting the commercial real estate market and could sell for up to $60 million, according to the Hollywood Reporter.

The property is being marketed as a development opportunity and a hotel could be developed on a 90,000-square-foot parking lot, suggests the Reporter. The owner is listed as LSREF 2 Clover Property 4 LLC.

The iconic venue on Sunset Boulevard has hosted a range of performers including Frank Sinatara and Jay-Z. It was also home to The Lawrence Welk Show.

The venue is leased by concert and events company Live Nation, which signed a 20-year lease for the property in 2007.

Read more here.

Philip Mershon June 05, 2012 at 03:39 PM
I read this article the other day. Of course the one sentence that stood out for me was: "Given the Palladium's iconic nature, if a development were to move forward, the theater is not expected to be demolished, though it is not protected by any historic designation." I think in the case of this building any developer would know that demolition would bring a major community backlash and PR nightmare. Or, at least I hope they would know that.....

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