Los Angeles, CA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, has secured a new location for Spruzzo Restaurant & Bar at 538 Palisades Drive, Pacific Palisades, CA. The space consists of 2,800 square feet and will open to the public at the end of October. Michael Pakravan represented the tenant.
This will be the second location for Spruzzo Restaurant & Bar, an upscale family-friendly restaurant with generous portions. Primarily known for pizza in Malibu, Spruzzo also offers appetizers, salads, sandwiches, pasta, chicken, steaks, and fresh seafood entrees. The new location is within the Palisades at Highlands Village, located on the corner of Sunset Boulevard and Palisades Drive.
“After 26 years of serving Malibu, we are excited to announce that Spruzzo Restaurant & Bar is expanding into the Pacific Palisades,” said Spruzzo’s owner Ryan Gowhari. “We hope to bring the sense of community and comfort that Spruzzo customers have grown accustomed to, while maintaining the same standards of quality and love for cooking. To the City of Palisades – we are here to serve you!”
Matthews™ agent, Michael Pakravan was able to leverage his knowledge of the area coupled with his restaurant space expertise to assist Spruzzo in finding their ideal next location. Matthews™ procured the site and negotiated the deal for over eight months. The unprecedented timing of the pandemic delayed the process.
“Throughout the course of 2020, myself and the Spruzzo team witnessed many major retailers file bankruptcy and restaurants struggle to make ends meet. A few groups were very opportunistic during these times, taking full advantage of the shift in leverage and utilizing the lack of demand as a tool to maximize terms that were previously unheard of,” explained Pakravan. “Despite the challenges brought on by COVID-19, I am thrilled to see Spruzzo land the deal and expand into their second location. The residents of Pacific Palisades are in for a treat.”
The Matthews™ Retail Leasing Division represents top tenants such as Silverlake Ramen, Sweetfin, Gyu Kaku, Health Nut, Jersey Mike’s, Tempo Urban Kitchen, King & Queen Cantina, Gina’s Pizza, and more. For tenant requirements, more information regarding this lease, or any other questions related to Retail Leasing, please do not hesitate to reach out to Michael Pakravan.
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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