Luxury fashion retailer Fred Segal has inked a deal for a 22,000-square-foot store a 8500 Sunset, CIM Group’s Sunset Strip project.
The deal brings a high-profile name in luxury retail to a neighborhood that’s been largely defined by clubs and nightlife venues, the Los Angeles Business Journal reported.
When complete, the project, which is on the corner of Sunset and La Cienega Boulevards, will comprise 190 residential units as well as retail space and a 296-room James Hotel. It will also include a restaurant, gym, florist, wine shop and a café.
The deal represents an about-face for Fred Segal, which has been downsizing since it closed its Santa Monica outpost earlier this year. The brand also recently moved out of its original store on Melrose Avenue, which was bought by CormackHill. The company also pulled out of a lease for more than 20,0000 at Invesco’s Runway Playa Vista.
In September, the brand’s parent company Sandow filed a copyright infringement complaint against CormackHill for retaining the red, white and blue “Fred Segal” sign on the Melrose property. [LABJ] — Cathaleen Chen