Retailers Sign Leases in Larchmont


Nine retailers have signed leases to take space in Larchmont Mercantile, a new shopping destination in the Larchmont Village shopping district in Los Angeles.
A project of Christina Development Corp., based in Malibu, the Larchmont Mercantile building is comprised of 14 contiguous retail storefronts across 17,000 square feet of commercial space.

Christina purchased the property at 124 ½ to 148 N. Larchmont Blvd. in 2018 and hired architecture firm Gensler to design it.
The building was originally developed in 1921 by Julius La Bonte. The sale to Christina marked the first ownership change for the property, according to CBRE Group Inc., the Dallas-based commercial real estate services firm that is handling the leasing.

Zachary Card and Erik Krasney of CBRE are leading the leasing assignment and tenant curation of the Larchmont Mercantile.
Card called the project “boutique street retail at its best” in a statement from March 2021 when it was announced that CBRE would handle the leasing.

“This neighborhood gem in the heart of affluent and historic Hancock Park caters perfectly to shoppers who love to be outdoors and seek community engagement,” Card said in a statement.

Among the nine retailers signing leases are Hidden Jeans, a commerce-based women’s denim brand; The Scent Room, a perfumery and fragrance shop; Flannel, a women’s designer clothing store; clothing brand Velvet by Graham and Spencer; Topdrawer, a functional goods store selling homeware and stationery; Boba the Great, a local boba tea merchant; Credo Beauty, which specializes in clean beauty products; national skincare brand Skin Laundry; and Holey Grail Donuts, a Hawaii-based donut chain.

“Since the spaces are raw, each retailer is responsible for building out the interior, so no shops will officially be open until the end of summer,” a Christina spokesperson wrote in an email to the Business Journal.
Lawrence Taylor, the founder and chairman of Christina, said in an interview with the Business Journal in November that the project will be enticing to shoppers because it is on a very pedestrian-friendly street.

“It’s really been pretty good momentum, and rents are stable or better than they were pre-Covid,” Taylor said, adding that he would be interested in investing in more retail properties.
“I’m always on the lookout for opportunities to expand the retail portfolio,” he said in the interview.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

20 + one =