Melrose Avenue stores led by Los Angeles, New York City and London based brands
Melrose Avenue is a world-renowned retail destination that attracts international shoppers and brands alike
July 31, 2019
- Melrose Avenue is a world-renowned retail destination that attracts international shoppers and brands alike. The Melrose corridor between Robertson Boulevard and Crescent Heights Boulevard commands some of the highest retail lease rates in the country because of its visibility within the entertainment celebrity sector, high fashion aficionados, as well as social media influencers.
- The three main spending categories on Melrose are clothing, furniture, and dining. Consumers spent $280.9 million on clothing and accessories, $121.5 million on furniture, and $198.5 million on restaurants/bars in the one mile radius within Melrose Place.
- 46% of the spaces between Robertson and Crescent Heights are composed of Los Angeles native brands, including Cycle House, Brown Jordan, RTA Brand, The Great, Formations, Anne Hauck, Martyn Lawrence Bullard, and others. The second most prolific presence are brands originating from New York City, which include Alice & Olivia, Anna Sheffield, The RealReal, John Varvatos, and Untuckit. London based brands are the third most present on Melrose. These stores include Sweaty Betty, The Rug Company, Pretty Little Things, and AllSaints.
- 19 of these exclusive stores were created by women. Some of these entrepreneurs include Nichelle Hines, Jilla Berkman, Nicky Rising, Emily Current, Janet Yonaty, Rea Laccone, Julie Wainright, Rose Tarlow, and Katherine Tash.
- Melrose Avenue landlords benefit by the halo effect of a clustered pedestrian friendly shopping district with a distinctive brand identity. Investor activity underscores the value of this retail trade area. In July 2019, the Sterling Organization completed a two building retail portfolio sale on Melrose Avenue for $35 million, at an astounding $1,419 per square foot.
Source: JLL Research/ Esri
You may also like
Shifts in the way people live, work and shop in a post pandemic world have forever impacted the industrial real estate sector
Chestnut and Walnut Street retail visits drop precipitously in Philadelphia during COVID-19 pandemic
Pressure from distressed New York retailers has softened landlord sentiment, allowing for lease restructurings