One of Beverly Hills’ oldest small businesses could close after receiving a proposed rent increase from the city.
Pioneer Hardware, the century-old business that has been in a city-owned building at 333 N. Crescent Drive since 1983, was notified that a 10% rent increase will take effect in 2027, owner Jeff Tilem told the Courier. The rent, which is currently $7,271.08 per month, would increase by $741.12 starting in 2027 and then increase by 3% each year thereafter under the new five-year proposal. The proposal is more than any previous rental increase, and Tilem said it would force the store to close at the end of 2026.
