Case Study: Real Estate Broker Services/Site Selection
Mel's Drive-In: A Hollywood Presence for an American Icon
Steven Weiss, the owner of the high-profile and extremely popular Mel's Drive-In chain, wanted a location in Hollywood, but had been unable to find the right situation. He needed high visibility, easy access, and the ability to operate profitably for breakfast, lunch and dinner, and throughout the evening. He turned to Ira Spilky & Associates to get the job done.
Development Plan of Action
As always, Ira made sure he understood completely the business requirements and
site criteria of his client. Then he put his networking abilities and industry
contacts to work. Ira considered several likely locations, until his investigations
turned up just the right one. Ira contacted a landlord he knew who had recently
reclaimed a prime restaurant space from a bankrupt tenant. This was the space
Mel's was looking for, a high-visibility free-standing 6,500 square foot location
with great parking at the corners of Hollywood and Highland in Hollywood. Even
better, the site was part of Hollywood's stylish Max Factor Building. Soon,
Steven and the building landlord were in negotiations, with Ira taking part
in the mediation.
Win-Win Profit Result
Soon, an mutually beneficial agreement had been reached that included a landlord-tenant
improvement package. Mel's brought in their copyrighted design elements and
their distinctive memorabilia display, while the landlord agreed to necessary
infrastructure improvements. The deal represented an ideal marriage bringing
the famous Mel's identity together with the prestigious Max Factor brand in
a high-traffic, multi-use, day and nighttime mixed-use location that matches
the Mel's formula perfectly. Steven has since retained Ira to find several
more locations for his famous restaurant chain.
"Ira worked miracles for me," says Steven Weiss. "Ira knows the business and he gets results. I think he's the authority when you want to buy or sell a restaurant."