The Invisible Retail Deals
Eric Richardson
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DOWNTOWN LOS ANGELES — This week's Downtown News runs a profile of Derrick Moore, the CBRE retail broker whose name appears around Downtown on property for lease. The article says that Derek's currently representing 250,000 sq. feet of retail space.
Like many articles before it, this one talks of a newly completed deal, this time in the Brockman building.
And in what was once considered a retail no-man's land, the ink is barely dry on a lease for a sprawling gourmet market and restaurant on the glass-enclosed ground floor of the 80-condo Brockman Building at 530 W. Seventh St., one of the major components in a budding effort to create a thriving "Restaurant Row" on the street.
"This deal is key for Seventh Street in that it will unite the Jewelry District and blend into the Financial District," Moore said. "It's a type of Dean & Deluca place where you can meet, people watch, see and be seen."
What frustrates me about these sort of deals is that there's no evidence to the person on the street that this deal has been done. The sign on the building still says it's up for lease, as do signs on various other retail sites we've heard are spoken for (Fine Arts Building, 617 W. 7th, etc).
It's nice to hear of deals, but I'll be happier when I can see them. If the casual passerby on the street still sees all the empty retail and signs saying the spaces are available, how are they supposed to know that all this cool stuff is going on?
meekorouse on May 08, 2007, at 01:55PM – #1
his is the name on our building here on hope as well, and although we were advised that all sorts of retail would be moving into the South Park area we have yet to see it really happen other than in the etheral, "LA LIVE" and "Market Lofts" sort of way.. assuming we're still living downtown when all this opens.. good on ya Derrick Moore, but otherwise.. whatever.. it's all empty space!
David Kennedy on May 09, 2007, at 07:36AM – #2
This is called Marketing 101. Guys like Mr. Moore should be on top of details like this. Certainly Hal Bastian should be on top of stuff like this. Both of them are driving the 7th Street Restaurant Row concept (which is a very good idea and long overdue). Signage annoucing these kinds of deals would build awareness and make Derrick's job easier on subsequent tours to prospective clients.
In Mr. Moore's defense, I noticed months ago there is signage trumping the forthcoming Bottlerock (sic?) winebar down on 11th in South Park. He should make a point with these clients to get this done.
I'd also add, this is all new for property owners in the Financial District and South Park. Their hunker-in-the-bunker mentality is receding. Retail at the street level has been bungled for over a generation in these parts. They are just learning. This is just one of those details which soon will become a routine part of the communication/marketing plan.
Scott Mercer on May 10, 2007, at 10:35AM – #3
I think projects like the Daily Grill have shown the street-level retail can be successful, and all those fortress shopping malls (ARCO Plaza, Macy's Plaza) built in the 1970's were a bad idea. You're living in L.A., the land of sunshine and ocean-kissed breezes, and after work you go hunker down for a beer in a huge basement? Huh?
BTW, anyone checked out Seven Grand yet? Really nice place.
David Kennedy on May 10, 2007, at 12:12PM – #4
Hopefully, the mamsita index for Seven Grand is higher than the Golden Gopher or the Broadway Bar. I'll take a dump over a nice place any day, as long as the eye candy is good. Nice places are good for the visiting parents.
Dennis Smith on May 10, 2007, at 12:50PM – #5
David Kennedy is without a doubt one of the best regular commentators on this site but I am struck by the seeming irony posed by today's desire for watering holes to fulfill their potential mamacita quotient as opposed to exactly a year ago today when he called on the Downtown News to highlight the more family friendly aspects of downtown life such as best pediatrician, best kid friendly restaurants and churches for baptism. Frankly, I have a feeling David probably feels there is plenty of room for both thriving nightlife and residential families in our expanding view of downtown Los Angeles. Now if we could just figure out which baptismal churches feature the best eye candy it would give many of us a reason to wake up early on Sundays.
David Kennedy on May 10, 2007, at 04:02PM – #6
You are correct, Mr. Smith. I take an expansive and imperial view of downtown encompassing and accomodating all the human impulses. I see no contradiction in being the proud family man and expressing the hankering for some eye candy. Whoa to those who can't square the tension between the two impulses. Life's too short. Besides the little woman needs to get out on occasion. Our preference is the wild dump over the dull yet classy club. We'll take The Mayan over the Golden Gopher any day.
You are also correct in noting that I take umbrage in the idea that downtown ought to be monoculture catering to a single demographic. The clueless and affluent hipster seems to be the favored demographic of the moment. In the case of the Downtown News, they are still stuck in the 1980s. They see downtown as a collection of fascinating cultural destinations for the weekend visitor or the downtown office worker looking for some diversion at lunch-time. They are trying, but they haven't successfully adjusted to downtown as a vibrant and complex residential neighborhood. (Actually, most people still haven't.) The narratives for downtown residents are very limited.
Again, you are correct in understanding that part of the distinct pleasure of urban life is the idea that it is all there. I see no tension in the area accomodating a range of residential options and an equally diverse range of nightlife options. In fact, I want both (and everything else, too).
As for your final query, the best Sunday services for eye candy is Immaculate Conception west of the 110 just before Union on 9th. The sermons tend to be as dull as ditchwater. But, it is in Spanish and that always improves things.