2013. los angeles

Global Cities Retail guide Cushman & Wakefield 2012/2013 los angeles Global Cities Retail guide los angeles Overview Photos (above and cover) / N...
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Global Cities Retail guide Cushman & Wakefield 2012/2013

los angeles

Global Cities Retail guide

los angeles Overview

Photos (above and cover) / Neil Kremer on Flickr

Los Angeles’ unique climate and celebrity lifestyle have long attracted domestic and international attention. Not only do visitors and local inhabitants enjoy the city’s mild weather, but retailers appreciate the 12-month shopping season, free of the unpredictably and challenges of weather in other areas of the U.S. and around the globe.

Los Angeles continually attracts global attention through its Hollywood stars, its film, television and music industry, and its blockbuster events such as The Academy Awards and People’s Choice Awards with their international viewing audiences. Brand awareness and product placement are very important in Los Angeles for retailers launching new concepts. To that end, hiring a good publicist and ensuring the right exposure, including real estate visibility, is paramount. Studying the local market trends is also important as European fashion doesn’t always translate to the US. Luxury items such as handbags, jewelry, sunglasses, shoes, and cosmetics, however, do very well. California is also the launch place for many new food concepts and restaurant chains. The vitality of the Food & Beverage sector is not surprising given the state’s abundance of agricultural products—California produces about half of the all fruits, vegetables and nuts in the U.S., for example—and its wine production, an annual output only topped by France, Italy and Spain.

CUSHMAN & WAKEFIELD

Global Cities Retail guide

los angeles Overview

10.3million

County population

88

Incorporated cities

19th

Largest economy (GDP) in the world

25.8million

Annual tourists to Los Angeles County

$14.2billion

Visitor related spending

$34billion

Annual motion picture industry generation

CUSHMAN & WAKEFIELD

Global Cities Retail guide

los angeles Key Retail Areas & Streets BEVERLY HILLS Beverly Hills is the premier shopping destination in Southern California. The 16-block Golden Triangle showcases the most fashionable international brands. The three blocks that make up Rodeo Drive are dominated by luxury labels while the surrounding blocks house other well-known labels. The gateway Two Rodeo project is an architecturally unique project featuring a cobblestone street, romantic archways and bubbling fountains interspersed with iconic retailers and restaurants. This international city is home to some of the world’s most renowned hotels such as The Peninsula, The Beverly Hills Hotel, and The Beverly Wilshire, which all have their own signature/chef-driven restaurants.

WEST HOLLYWOOD West Hollywood is made up of several distinct districts, notably the Design District; the high streets of Robertson, Melrose and La Brea; Santa Monica and Beverly Blvds; the Sunset Strip; and The Grove and Farmers Market. Nestled among giant billboards, trendy restaurants, hotels, and boutiques lies Sunset Plaza, the gateway to the Sunset Strip, which has a distinctive European feel with its sidewalk cafes and pedestrian-friendly design. The Grove, adjacent to the famous Farmers Market, is one of the most successful retail centers in the country and reportedly attracts 17 million visitors annually.

SANTA MONICA Santa Monica boasts the most prolific open-air shopping experience between Third Street Promenade, the newly-renovated Santa Monica Place, Montana Avenue, Main Street, and Abbott Kinney. All these open air venues collectively attract the most tourists due to their wide variety of retail, dining and entertainment. The average foot traffic per day from Third Street Promenade to Santa Monica Place is 40,000.

CUSHMAN & WAKEFIELD

Global Cities Retail guide

los angeles Key Retail Areas & Streets CULVER CITY Culver City is an evolving residential, creative office, shopping and dining district. In addition to the recently revitalized Westfield Fox Hills Mall, the area is also home to the renovated Helm’s Bakery project, which has found new life with furniture showrooms, art galleries, restaurants, and other unique retail outlets.

DOWNTOWN LA Downtown LA is home to more than 3,000 unique retailers spanning the Arts, Fashion, Toy, Historic, Central Business, Chinatown, Flower, Jewelry, and South Park Districts, ranging from mom and pop stores to new chain retailers. The soon-toreopen Fig at 7th and LA Live are the largest and newest retail projects in Downtown.

PASADENA/GLENDALE: THE AMERICANA AT BRAND Pasadena/Glendale: The Americana at Brand is a 16-acre, 475,000-sf mixed-use pedestrian only development, including 100 luxury condominiums and 238 apartment homes in the heart of downtown Glendale across from the Glendale Galleria, one of the largest malls in LA County. This three-story regional shopping mall has over 260 stores and is undergoing a major renovation and will be adding a Bloomingdales in fall 2012. Old Town Pasadena (Colorado Blvd.) is a designated historic district featuring upscale shops, restaurants/cafes, a movie theater, nightclubs, pubs, comedy clubs, and the Paseo Colorado Mall.

hollywood Hollywood, long known for its tourist draw, is now becoming home to signature restaurants, and nightclubs as well as boutique and chic national hotels.

CUSHMAN & WAKEFIELD

Global Cities Retail guide

los angeles Key Retail Areas & Streets market overview

As of August 2012

KEY AREAS/ STREETS/SHOPPING CENTERS

CONSUMER PROFILE

MAJOR RETAILERS PRESENT

NEW ENTRANTS

TYPICAL RENT FOR UNIT OF 2,000 SQFT

RANGE OF UNIT SIZES (SF)

Golden Triangle (Rodeo/Beverly Drive/Canon Drive)

Affluent locals, tourists, celebrities

Louis Vuitton, Hermes, Tiffany & Co., Dior, Prada, MaxMara, Lacoste, DeBeers, Juicy Couture, Ralph Lauren, Giorgio Armani, Chanel, Salvatore Ferragamo, Gucci, Coach, Dolce & Gabbana, Cartier, Bulgari, Versace, Lalique, Tom Ford, Jimmy Choo, The North Face, L’Occitane, GAP, Williams-Sonoma, Neiman Marcus, Burberry, Barneys, Saks Fifth Avenue, Nike

Rolex, G Star, Pomellato, Agent Provocateur, Tumi, Lanvin, Tom Ford, Vosges Haut Chocolat, Boffi

$500 $96-$144 $120-$165

80-4,000

The Grove

Locals, tourists

Nordstrom, Crate & Barrel, Apple, American Girl, Barnes & Noble, GAP, Abercrombie & Fitch, Victoria’s Secret, Barneys Co-Op, Forever 21

Top Shop, Athleta, Michael Kors, MAC, UGG

$250-300

1,000-50,000

Old Town Pasadena

Locals, tourists

Sur La Table, Urban Outfitters, Barnes & Noble, The Body Shop, Lush, Restoration Hardware, Crate & Barrel, Banana Republic, Zara, Guess, Chico’s, Steve Madden, Kate Spade, A/X, Victoria’s Secret, Pottery Barn, Apple, Abercrombie & Fitch, J. Crew, Tiffany & Co., H&M, Forever 21

American Apparel, Intelligensia Cafe

$90

All Sizes

The Americana at Brand

Locals, tourists

American Eagle Outfitters, Anthropologie, Apple, A/X Armani Exchange, Bare Escentuals, Barnes & Noble, Barneys New York BCBGMAXAZRIA, Chico's, Cole Haan, H&M, J.Crew, Juicy Couture, Kate Spade, Kiehl’s, Lacoste, Sephora, Sur La Table, Tiffany & Co., True Religion, Urban Outfitters, Vera Bradley, XXI Forever

Apple, Nordstrom

$ varied

1,000-60,000

West Hollywood (Robertson/Melrose/ La Brea)

Affluent locals, tourists, celebrities

Chanel, AllSaints/Spitalfields, Michael Kors, Kiehl’s, Tory Burch, Kitson, MAC Cosmetics, Ralph Lauren , Seven for Mankind, BCBG, American Rag, Marc Jacobs, Alexander McQueen, Paul Smith, Diane Von Furstenberg, Oscar de la Renta, Carolina Herrera, Theory, Vivienne Westwood

Michael Kors, Rebecca Taylor, Monika Chiang, JLM Couture, MAC, Monique L’Huiller

$ varied

1,000-11,000

CUSHMAN & WAKEFIELD

Global Cities Retail guide

los angeles Key Retail Areas & Streets market overview

As of August 2012

KEY AREAS/ STREETS/SHOPPING CENTERS

CONSUMER PROFILE

MAJOR RETAILERS PRESENT

NEW ENTRANTS

TYPICAL RENT FOR UNIT OF 2,000 SQFT

RANGE OF UNIT SIZES (SF)

Third Street Promenade/Santa Monica Place/Montana Avenue

Locals, tourists

American Apparel, Old Navy, Sephora, H&M, Banana Republic, Victoria’s Secret, Brookstone, Zara, Sunglass Hut, Crocs, Diesel, Anthropologie, Puma, Gap, Quiksilver, Tillys, Urban Outfitters, Guess, Aldo, Papyrus, Forever 21, Abercrombie & Fitch, Skechers, Williams Sonoma, Kiehl’s, Lucky Brand Jeans, Shabby Chic

Converse, Nike, Bloomingdale’s, Tiffany, Louis Vuitton, Apple Superstore

$160-$200 $48-$60

1,000-20,000

Sunset Plaza

Upscale locals, tourists

Zadig & Voltaire, BCBG, Nicole Miller, Hugo Boss, Max Azria, Oliver Peoples, H. Lorenzo, H&M, Equinox

Lenceria Boutique, Westime, Soul Cycle

$72-$100

300-30,000

Downtown LA

Urban, hip, trendy, high income residents, tourists, young professionals, students, CBD employees

Macy’s, Ralphs

Target, Walmart, Ross

$24-$60

1,000-100,000

Hollywood

Tourists

American Eagle, Blackjack Clothing, bebe, Coach, Express, Fossil, Gap, Guess, Louis Vuitton, Nine West, Victoria’s Secret, XXI Forever

BCBG Max Azria, Lucky Brand Jeans, H&M, Zara

$ varied

All sizes

CUSHMAN & WAKEFIELD

Global Cities Retail guide

los angeles Food & Beverage Culver City has been reinvented as a trendy hangout as obsolete industrial buildings have been converted to fashionable restaurants and shops.

market overview

Data as of August 2012

KEY AREAS

CONSUMER PROFILE

FOOD & BEVERAGE OPERATORS INCLUDING

Culver City

Trendy, hip locals

Santa Monica with its various niche markets, has a wide variety of restaurants from upscale eateries and national chains to small cafes and themed establishments.

Sushi Zo, N/Naka, Waterloo & City, Casa Sanchez, Sakura, Akasha, Ford’s Filling Station, Fraiche, Novecento, Lukshon, L’Epicerie, Western Smoke House, Meet, La Petite Creperie, Batch, Petrelli’s

West Hollywood

Trendy, hip locals

The Beverly Golden Triangle dining includes a wide range of uber chic restaurants, chef-driven concepts and finer national chain eateries.

Koi, Lucques, Nobu, BOA, STK, Comme Ca, Madeo, Dan Tana’s, Ink, Asia de Cuba, Chateau Marmont, BLT Steak, Gordon Ramsey at the London, Hatfield’s, The Eveleigh, Ago, Was Sushi, The Palm, Amarone Kitchen, Matsuhisu, Petrossian, Providence, Red O Bagatelle, Foundation Room, The Ivy, Cecconi’s, Osteria Mozza, Urth Cafe

Santa Monica

Locals, tourists

Sonoma Wine Bar, Hillstone, Boa, Sushi Roku, Ivy at the Shore, Michael’s, Bay Cities, Frida Mexican Cuisine, Granville Cafe, Fraiche, The Tavern, Katsuya, Cheesecake Factory, Trattoria Amici, Trastevere Ristorante, City Kitchen, Capo, the Hungry Cat

Beverly Hills Golden Triangle

Affluent locals, tourists, celebrities

Scarpetta, Mr. Chow, Il Fornaio, Cheesecake Factory, CUT by Wolfgang Puck, Mastro’s Steakhouse, Porta Via, McCormick & Schmick's, Urasawa, 208 Rodeo, The Farm at Beverly Hills, Crustacean, Villa Blanca, Le Pain Quotidien, Bouchon, Spago, Craft

The Grove

Locals, tourists

Cheesecake Factory, Maggiano’s Little Italy, Morels, Umami Burger, La Piazza, Wood Ranch BBQ & Grill

LA Live boasts 20 restaurants to choose from before or after a game, concert, or event at the Nokia Theater or the adjacent Staples Center. The downtown mall at 7th Street and Figueroa is undergoing a $40-million revamp to include a 25,000-square-foot chef-driven food court called Taste. The 7th Street Restaurant Row is growing each month with new concepts.

Old Town Pasadena

Trendy, hip locals and tourists

ThaiItalian, Malagueta, Mi Piace, Kabuki, The Melting Pot, Louise’s Trattoria, Bar Celona, Sushi Roku, Il Fornaio Cucina Italiana, Wokano Cafe, Cheesecake Factory, Barney’s Beanery, Cafe Bizou, POP, Ruth’s Chris, Smitty’s, The Chop House, Yard House

Downtown LA

Urban, hip, trendy, high income residents, tourists, young professionals, students

Loteria Grill, Water Grill, Patina, LA Mill, Choppe Choppe, Arnie Morton’s, Engine Company, Roy’s, Sugarfish, First & Hope, Bottega Louie, Pete’s Cafe, Church & State, Drago, Chaya, Fleming’s, Katsuya, Lawry’s, Trader Vic’s, WP24, Conga Room, Rosa Mexicano, The Hungry Cat

Hollywood‘s main attraction is tourists and there are plenty of California-style restaurants to choose from along the Walk of Fame, although it has its share of regional draw locations and clubs as well.

Hollywood

Tourists

Katsuya, Dillon’s Pub, California Pizza Kitchen, The Grill on Hollywood, Hard Rock Cafe, h.wood tea service by Chado, Koji’s Sushi & Shabu Shabu, Rise at The Highlands, Rolling Stone LA, Cold Stone Creamery, Crumbs Bake Shop, D’lush, French Crêpe Company , Great Steak & Potato Co., Green Earth Café, Hollywood Mongolian Grill, Johnny Rockets, Wine Bar Café

West Hollywood offers a broad cross section of dining options, from world-class signature restaurants to funky cafes.

The Grove and the Farmers Market host local operators and national /regional food chains in an outdoor setting. Old Town Pasadena offers a wide array of cuisines, from novelty fast food and ice cream to upscale restaurants, tea shops and wine bars.

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