News
National Retail

Iconic Yamashiro Restaurant Could Get Evicted From Hollywood Site

Photo credit: Colliers International

The Yamashiro Restaurant could soon be evicted. The restaurant just sold last month along with the Hollywood Hills Hotel & Apartments for nearly $40M to 1999 Sycamore LLC, an Asian investment and development firm.

The new owner's plans for the Hollywood property were originally up in the air, but the restaurant now faces eviction because the rent is higher than Yamashiro's principal owner, Thomas Y. Glover, has been paying, according to Curbed.

Glover's family had owned the property since 1948.

The new rent is reportedly $100k/month, which is at least three times higher than he previously paid, Glover told the LA Times.

A hearing is scheduled April 28 to determine a date for the eviction lawsuit to go to trial. [Curbed]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Philly Retail Momentum Spills From Rittenhouse Into Northern Liberties

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

Developers Riding The Surf Park Wave With Resorts, Retail And Residences

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Forget Buildings, Retailers Are Leasing Environments

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy