globe retail outlook data

 

  • Retail
  • Office
  • Log In
https://smg.cbre.com/images/default-source/default-album/header-image.jpg?sfvrsn=69c20d96_0

Retail By City

city rank #26

City Overview

The Greater Los Angeles retail market, spanning from Lancaster to Long Beach and Pomona to Malibu, remains robust, with falling unemployment rates and strengthening consumer confidence. Los Angeles continues to be a major tourist destination and interest rates remain relatively low. The density of population creates strong consumer demand, which in turn generates keen interest for new space from national retailers. With quality space in high demand, landlords are better placed to dictate price and achieve rental growth. Retailers continue to enjoy comparable sales growth. This success leads to their desire for infill opportunities as well as store growth within the growing residential markets. Neighborhoods seeing strong demand include Robertson Boulevard and Rodeo Drive in Beverly Hills, Colorado Boulevard in Pasadena and Montana Avenue in Santa Monica. Many regional malls have undertaken major renovations recently in order to remain competitive. Examples include Westfield Century City Mall, The Mills Del Amo Mall, Westfield Topanga Mall and The Americana at Brand. This highly coveted space focuses on creating experience for visitors. Many traditional regional malls are seeing considerable competition from lifestyle centers in the upper-end of the market, as well as from big box power centers with a value-led offer. Examples of lifestyle centers include The Grove in Los Angeles, The Americana at Brand in Glendale and Paseo Colorado in Pasadena. Rental growth is expected to continue for all available "A" space, and strong "B" while "C" locations experience a softening in rents and increase in vacancies. This is expected to continue as fewer and fewer large properties exist for major development. However, each power center or town center project continues to draw retail sales from lesser locations. New entries to the area include Whole Foods, Equinox, The Harmnist, and Aritaum.

Things to do

See

Work

Rodeo Drive, Third Street Promenade, Sunset Plaza


Rest

Hollywood Guinness World of Records, Knott's Berry Farm, Paramount Studio Tour, Universal Studios Hollywood, Disneyland, Ace Hotel, The Wizarding World of Harry Potter


And be seen

Eat

Oliver, Water Grill, Spago, The Ivy, Sur Restaurant, LA Chapter


Drink

Farmosa, The Abbey, Sky Bar, The Standard, Perch, No Vacancy


Be Merry

The Viper Room, LA Live, The Lobby, Hyde, House of Blues, The Theater at Ace Hotel